You can also watch backstage interviews, in which Senior Fellow Jay Richards goes into greater depth with each speaker on the topics addressed onstage.
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A new review of George Gilder’s latest book Life After Capitalism from Samuel Gregg highlights the need for the return of the “mind-centered economy,” in which governmental bureaucracies no longer hamper human creativity and imagination. When capitalistic, democratic societies fall for materialistic presuppositions of the world, they end up resembling socialist contexts in which the state is everything and individual men and women are squelched. Gregg writes at the Acton power blog, [Gilder]takes this notion of the free human mind as the decisive factor in driving economic growth and applies it across the board to economic theory, technology, and our understanding of money. Looking at the question of incentives, for example, Gilder points out that they would yield nothing in Read More ›
Author of national bestseller Life After Google and generation-defining Wealth and Poverty, venture capitalist, futurist, and pioneering thinker extraordinaire George Gilder pinpoints how the clash of creativity with power at the heart of economic systems leads to global cognitive dissonance and argues that the creation of the novel taps capitalism’s infinite promise and is humanity’s only path of escape from stagnation and tyranny. Gilder once more rocks the archetypes of modern information theory and economics with a paradigm-shifting salvo of sheer brilliance. The capitalist era is over — get ready for life after capitalism. For more than two hundred years, capitalism spread wealth around the globe, bringing unprecedented prosperity and progress, liberating human potential. But something has gone terribly wrong in the world economy. Read More ›
What was the precursor for the widespread tech addiction we see today, particularly in young people? Many say it was the iPhone. Peter Tonguette, however, thinks that the game Tetris started the screentime avalanche. Tonguette reviewed the new Apple TV+ film Tetris, which covers the story of the classic game’s development, acquisition, and subsequent popularity in the early nineties. He writes, One might assume this changeover coincided with the rise of smartphones and social media, but a new movie shows that it happened as early as the summer vacation of 1989. During that fateful interregnum between school years, kids were introduced to something that prefigured the electronic devices of the 21st century: a battery-powered, 8-bit handheld videogame device whose two Read More ›
[Warning: Spoilers Ahead] The highly-watched HBO show “Succession” tells the story of a media empire ruled by a cantankerous, manipulative businessman, Logan Roy, and his three children who are hardly any better. Most of the show is a commentary on the corrupting effects of wealth and the power dynamics involved in the media empire’s core leadership. In the dramatic fourth season, Logan Roy dies from what seems to be a stroke while he’s flying to Norway to discuss a giant merger deal with another media mogul. From there, the three Roy children, Kendall, Roman, and Shiv (along with a half-brother Connor who doesn’t care as much about his place in the kingdom) scramble to figure out the leadership, direction, and Read More ›
Can you believe it? USA Today, the national news outlet, on May 4, 2023, declared (italics added): It’s the end of the world as we know it: ‘Godfather of AI’ warns nation of trouble ahead. Before digging out and playing your 1987 REM album, ask yourself: Is this headline true – and what do we do now? The USA Today article mitigates the doom timeframe from imminent to someday in paragraph one (italics added): One of the world’s foremost architects of artificial intelligence warned Wednesday that unexpectedly rapid advances in AI – including its ability to learn simple reasoning – suggest it could someday take over the world and push humanity toward extinction. Within a day, the Arizona Republic ran Read More ›
For context, read Bartlett’s article explaining the fall of SVB here. I wanted to make a quick note about why tech bubbles tend to correspond with low interest rate environments. Interest rates essentially dictate how long someone can wait before they need to produce something of real value. In a 20% interest rate environment, it will be evident really quickly if you are failing to produce something of value. Since essentially 1/5 of your capital disappears each year, if you aren’t doing something that will generate real profits quickly, you are sunk. You can’t paper over problems with more borrowing because the cost of that borrowing is so high. Additionally, in such an environment, the payoffs for investment need to be large Read More ›
The U.S. Department of Justice (DOJ) is suing Google, claiming the technology company has monopolized the digital advertising market. This marks the second federal anti-trust suit against Google. Google has led the digital advertising market for years, although companies like TikTok and Amazon are becoming more viable competitors. Despite the competition, Google still raked in $209B in advertising in 2021, per a briefing from 1440 News, and its 2022 financial report is expected to disclose similar numbers. The official complaint notes the benefit and importance of a “vibrant internet” in American life but emphasizes the centrality of economic diversity and competition. Section 4 of the complaint claims “the ad tech space is broken,” further explaining, One industry behemoth, Google, Read More ›
Joseph Schumpeter argued that capitalist economies are not stagnant and calcified but, instead, by nature a form or method of economic change and not only never is but never can be stationary. Joseph A. Schumpeter, Capitalism, Socialism, and Democracy, 1950 He believed that embedded in capitalism is an engine of change that revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism. It is what capitalism consists in and what every capitalist concern has got to live in. Joseph A. Schumpeter, Capitalism, Socialism, and Democracy, 1950 Schumpeter was no doubt influenced by Charles Darwin’s theory of evolution. Darwin had written that the “extinction of old forms is the almost Read More ›
In June 2021, we started considering the provocatively titled podcast transcript, “Can a Robot Be Arrested? Hold a Patent? Pay Income Taxes?”, posted on the IEEE Spectrum site. Steven Cherry interviewed Ryan Abbott, physician, lawyer, and professor, about these topics and referencing his 2019 book, The Reasonable Robot: Artificial Intelligence and the Law. We’ve discussed whether artificial intelligence (AI) systems could be charged with crimes or can hold a patent. Whether “robots should pay taxes” turns out to be the scariest question yet. Touching upon the subject only lightly in the podcast, Abbott details the problem of taxing AI in Reasonable Robot, following this thought process: Automation using AI threatens to increase human unemployment. Current U.S. tax law encourages automation through favorable treatment Read More ›
Social media was aflood yesterday with confusion and intrigue when Grimes – a Canadian singer/songwriter and 3-year partner to technological entrepreneur Elon Musk – said that “AI is actually the fastest path to communism” and encouraged communists to embrace the technology if they want to see their political dreams come true. Grimes (born Claire Elise Boucher) posted a short video to TikTok on Thursday, proposing that artificial intelligence could lead us to a utopia in which no one has to work and everyone lives in leisure: “I have a proposition for the communists. So, typically most of the communists I know are not big fans of AI. But if you think about it, AI is actually the fastest path to Read More ›
In this week’s podcast, “AI development in Russia, Part 1,” Walter Bradley Center director Robert J. Marks talks with Samuel Bendett about Russia’s struggles to develop AI for entrepreneurship and free enterprise, rather than military uses. It turns out to be mainly a cultural struggle, as historic institutions must adapt to an environment where market dominance is more important than military dominance. Mr. Bendett, who is fluent in Russian and English, is an advisor to the Russia Studies Program and the Center for Autonomy and Artificial Intelligence of the CNA Adversary Analysis Group. And how is Russia faring? https://episodes.castos.com/mindmatters/Mind-Matters-103-Samuel-Bendett.mp3 From the transcript: (Show Notes, Resources, and a link to the complete transcript follow.) Robert J. Marks (pictured): What I want Read More ›
Rumor has it, artificial intelligence and robotics will make humans obsolete. Larry L. Linenschmidt discusses artificial intelligence, job displacement, virtue, and machines with Jay Richards. This interview is about Jay’s book, The Human Advantage: The Future of American Work in an Age of Smart Machines. This interview was originally aired by the Hill Country Institute and is included here in Read More ›
Will infotech and biotech erode human agency, subvert human desires, and render free-market economics obsolete? At first glance, there looks to be a wide gap between the future of AI and the destruction of democracy. Some futurists claim to have jumped that chasm. In a cheery little column published by the Atlantic, Yuval Noah Harari posits AI will ultimately destroy Read More ›