Asst. Prof. of Economics, @Citadel1842 | Applied Micro, Development & Political Economy | Philadelphia fan ⚾ & Big Seltzer Shill
Charleston, SC
Joined June 2016
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Greg Caskey retweeted
You must be kidding. AI might have big effects. It could have risks. So “policymakers,” must "act now,” before they have any idea what they’re doing, to "build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society?” Boy I’m glad no self-appointed “policy maker” decided to “steer” the development of the steam engine. The ones who “steered” nuclear power destroyed it. Preemptive dirigisme is killing tech in Europe. If said “policy makers” could do something about the dumpster fires of US social programs, building restrictions, appalling costs of public infrastructure, broken tax code, failing schools, maybe I’d think about "calling" to unleash them on some vague AI crusade. (Previous essay on this here grumpy-economist.com/p/ai-so…)
Here's our statement on AI and the economy.
We Must Act Now
A Statement on AI’s Transformation of the Economy
1. AI may become radically more powerful over the next 10 years.
2. This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.
3. Economists, policymakers and technology leaders must act now to understand the economics of transformative AI and to build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society.
Greg Caskey retweeted
Starting a Substack and shooting for weekly posting right before having my first kid was probably wishful thinking. But back this week with a post on why childcare costs so much in Colorado, a topic that has much more personal relevance now:
reillychandler.substack.com/…
From @hoyer_kat
“The iconic photograph of the Red Flag being hoisted on the roof of the Reichstag had to be altered as one of the soldiers on it visibly had two watches on his wrist, a clear indicator of the widespread looting and not exactly the stuff of history textbooks”
Greg Caskey retweeted
A walk off is cool
A walk off while you’re wearing gardening gloves is even cooler
Greg Caskey retweeted
300 years ago this year, in 1726, a group of "travellers" (as they were not then called) in Fife kidnapped a 3-year old boy.
He was soon rescued.
He grew up to be a great philosopher, found the discipline of economics and discover the idea of spontaneous order.
Adam Smith.
Greg Caskey retweeted
Must be nice to have been rich. In 1966, six first-class, roundtrip tickets from NY to Jamaica cost $1,950. At the average wage, that would require over 700 hours of labor -- the equivalent of over $22,000 today
Greg Caskey retweeted
"Happy Yeltsin Supermarket Day!" cato.org/blog/happy-yeltsin-… via @CatoInstitute
36 years ago today, pudding pops defeated communism. Celebrate accordingly.
Greg Caskey retweeted
On this labor day, remember that
Y=A*K^a*L^b
Implies that labor without capital produces zero and vice-versa.
Happy capital/labor complementary day.
Greg Caskey retweeted
For my wedding anniversary, I designed and had hand-woven in Afghanistan a rug for my microbiologist wife. The rug mixes traditional Afghanistan designs with some scientific elements including Bunsen burners, test tubes, bacterial petri dishes and other elements.
Greg Caskey retweeted
"In addition to damaging American imports, the trade war has also had deleterious effects on US exports." - @JosephPolitano
Greg Caskey retweeted
Buildings too tall, no setbacks, inadequate parking provision, overlooks neighbouring properties, retail generates excessive noise impacts, repetitive design features
Planning application denied
Stealing this bit from @D_A_Irwin for classroom usage from his excellent convo w/ @EconTalker:
"If we're running a trade surplus or a deficit, would you know it? No, it is to an abstraction. It's not something that personally affects you directly."
econtalk.org/the-economics-o…
