AI changing economics? Depends which era of AI.

It has for decades. Instant skepticism upon reading a theme of “Since 2016, [x] thing got worse and it’s up to [y] to fix it”.Author’s got interesting background:Secondary School Attached to the Embassy of the Russian Federation, Hellenic Republic
High School Diploma
2013 – 2020Basically, it’s modified George Soros – author writes about their modification to his ideas.Short of it: Nothing wrong with a Soros model but part of it is encouraging and profiting from well placed bits of chaos that utilizes the emotional investing of people, tendency to get cocky and upset alike, etc.

 Contrast from 2015: which focuses on RATIONAL economics, which is a totally different base than modified Soros, which is emotional based.
Stretch back to 1994 – and THIS paper talked about AI changing economics towards DECENTRALIZED economies, in contrast to a 2015 focusing on RATIONAL investing and a 2020 paper focusing on AI’s opportunity in emotional investing.
Artificial Intelligence and Economic Theory
Nicolaas J. VRIEND*
Santa Fe Institute
Abstract. Recently, economists have shown a rapidly growing attention for the field of artificial intelligence (AI). This contribution does not discuss the technology of AI, or its applications to econometrics, business. finance or management. Instead, we explain the signi ficance of AI for economic theory; in particular for the theory of decentralized economies.
lol this book from 1985 where I was going to pull another AI-will-change-economics, I found this gem: VERY familiar.

Oh wow, in 1985 the 5th generation computer WAS a reality and he was talking about 6th generation computers?
Note: we’re back on 4th generation computers since 1991.
Reading a book from 1985: “the Uneasy Eighties – The Transition to an Information Society” and saw this.
“And in the United States, the Employment Act of 1946 committed the American government to the maintenance of “maximum” employment. These political ideals of the industrial age – in large part a reaction to the 1930s – may be outdated.”
- yow that book reads like today.

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