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The future economics of artificial intelligence : Mythical Agents, a Singleton and the Dark Forest

Naudé, Wim - 2022

This paper contributes to the economics of AI by exploring three topics neglected by economists: (i) the notion of a … in a Dark Forest universe; and (iii) the relevance of economics' Mythical Agent (homo economicus) for the design of value …-aligned AI-systems. From the perspective of expected utility maximization, which both the fields of AI and economics share, these …

Persistent link: https://www.econbiz.de/10013453997

Economic history or history of economics? : a review essay on Sylvia Nasar's Grand Pursuit: the story of economic genius

Ashenfelter, Orley - 2011

In this essay I review Sylvia Nasar's long awaited new history of economics, Grand Pursuit. I describe how the book is … foibles to show they are human! I contrast the general view of the role of economics in Grand Pursuit with Robert Heilbroner …

Persistent link: https://www.econbiz.de/10009523482

Enlightenment ideals and belief in progress in the run-up to the Industrial Revolution : a textual analysis

Almelhem, Ali; Iyigun, Murat; Kennedy, Austin; Rubin, Jared - 2023

Using textual analysis of 173,031 works printed in England between 1500 and 1900, we test whether British culture evolved to manifest a heightened belief in progress associated with science and industry. Our analysis yields three main findings. First, there was a separation in the language of...

Persistent link: https://www.econbiz.de/10014444302

Three revolutions of the modern era

Easterlin, Richard A. - 2019

The emergence and evolution of modern science since the 17th century has led to three major breakthroughs in the human condition. The first, the Industrial Revolution, started in the late 18th century and is based chiefly on developments associated with the rise of the natural sciences. The...

Persistent link: https://www.econbiz.de/10012026088

Religion and growth

Becker, Sascha O.; Rubin, Jared; Woessmann, Ludger - 2023

We use the elements of a macroeconomic production function - physical capital, human capital, labor, and technology - together with standard growth models to frame the role of religion in economic growth. Unifying a growing literature, we argue that religion can enhance or impinge upon economic...

Persistent link: https://www.econbiz.de/10014391202

Technology-skill complementarity in the early phase of industrialization

Franck, Raphaël; Galor, Oded - 2016

The research explores the effect of industrialization on human capital formation. Exploiting exogenous regional variations in the adoption of steam engines across France, the study establishes that, in contrast to conventional wisdom that views early industrialization as a predominantly...

Persistent link: https://www.econbiz.de/10011452726

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10011401020

The relationship between economic growth and democracy : alternative representations of technological change

Heshmati, Almas; Kim, Nam-Seok - 2017

This study investigates the relationship between economic growth and democracy by estimating a nation's production function specified as static and dynamic models using panel data. In estimating the production function, it applies a single time trend, multiple time trends and the general index...

Persistent link: https://www.econbiz.de/10011704213

Artificial Intelligence and the discovery of new ideas : is an economic growth explosion imminent?

Almeida, Derick; Naudé, Wim; Sequeira, Tiago Neves - 2024

Theory predicts that global economic growth will stagnate and even come to an end due to slower and eventually negative growth in population. It has been claimed, however, that Artificial Intelligence (AI) may counter this and even cause an economic growth explosion. In this paper, we critically...

Persistent link: https://www.econbiz.de/10014464111

Growth, colonization, and institutional development : in and out of Africa

Bertocchi, Graziella - 2011

This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader research agenda which accounts not only for basic economic and demographic factors, but also for the role of history and institutional development. After reporting results from...

Persistent link: https://www.econbiz.de/10009310834