Let’s move forward in time to the 21st century, where we start to see the focus shift to environmental harm. Eco -horror is a new genre that explores fractured relationships between humans and the environment through terrifying representations of the natural world.You know — natural disasters.
strip it and um outfit it and retrofit it with sustainable materials um and eco -friendly materials as well and so basically just looking at the diagram um we have energy efficientappliances we've used CFLs um energy efficient air conditioning um we have bamboo flooring which is a sustainably
Because we were used to, we have for our 250 years thought of democracy and economic opportunity as distinct and separate. I mean, obviously interrelated and for many of us equally important, but but separate. They're not.
Because if democracy doesn't deliver meaningful economic opportunity, democracy starts to feel meaningless. And that makes authoritarianism and other forms of government more attractive, not in and of themselves,
By delivering real political voice and real economic power to we the people all of us. Because if we don't if democracy doesn't deliver broad-based opportunity, people will eventually
Democrat for 2028 than as a Republican, but that's a long way away and things can change. We don't know where the economy's going to be, we don't know what AI is going to look like, we don't know what the geopolitical space is going to be, but right now certainly the Democrats are in stronger position.
it. And that's where like so much of the dystopia of like AI in the online ecosystem has flowed from cuz we don't have a right to control that we should. What is one thing that everyday people can do to push back against Big Tech?
in India right now. So if you were to having read the book and having had some discussions about uh the co-intelligence if you were to sort of apply that to the to the GP ecosystem in India fintech ecosystem in India what might be some two three two three new things that you that that you would like to do I mean at this point there's a lot of stuff racing through my mind but I think the the two things that I'll probably point out that that have stood out from this talk for me that apply to this question are one this notion of understanding life life interactions a lot better and the second
meaning-based problems in life with the complicated, fact-based, information-designed economy and technology that we could actually get from the engineering world. Now, that, of course, is an error because in truth, the engineering side of life, which is incredibly important,
And it just flared right up because it's an ancient tool that demagogues can use. I think you can play in the ancient hatreds. But the ancient hatreds come up because other reasons arise, economic in the former Yugoslavian he was suggesting. Well, you could make a kind of a tie in here that the party that's benefiting from, let's call them, disaffected, disenfranchised whites in the American Rust Belt, voting for the Trump administration. What if we could have helped those people four or five administrations ago in the Rust Belt, not end up in the Rust Belt? Are
to photosynthesize to make their own food, so over a quite short period of time plants died, forests collapsed. Plant eating animals had very little to eat. They died. Then the meat eaters, ecosystems collapsed like houses of cards. And this led to a mass extinction. This is the most recent mass extinction to today, so it's the last one that happened. And three out of every four species died. So if you were living that morning before the asteroid hit, your entire species had a
familiar with that come from specializations that come from external economies of scale um versus economic dependency and if there is that trade-off then how does optimal policy shape it uh and of course we're interested in measurement
uh influencing the rest of Europe in the leadup to World War II and using his economy to exert that influence. So, Hman is an interesting character because first he has a Netflix show uh it's called the transatantic is very good um but he's famous for many different reasons. Most economists know his later
for example Bakay and Far have been doing picks up on that. This is earlier than that. This is him as a young economist. He goes to Berkeley. He's trying to get a job as a faculty member at Berkeley and writes this as essentially a trade book. And it's interesting because he has in mind two things. First, he had a very obvious distaste uh for mercantalism. Uh the
Now if you go um and pull out the citations of that book uh you can see that it used to be a big deal in economics then not so much in the middle a field open up in political science called international political economy that has really focused a lot on these issues. Um so in the next slide I will
make it even stronger. I'm going to assume that the consumer has linear utility, which means that prices in equilibrium are going to be constant. economy of scale you have to make some assumptions to maintain the problems being convex uh that's it okay
make it even stronger. I'm going to assume that the consumer has linear utility, which means that prices in equilibrium are going to be constant. economy that faces wedges. So you can see that here I didn't have the wedges.
If we can impose this tax, can we raise a little bit of revenue? economy that you're going to raise through taxation.
And I think that's behind a lot of the things that people are worried about. Economists are less good about how should we divide the pie.
with the way that agents are working and tool use, it started to become really useful for, still early days of it, but genuinely useful in economists and others, we were discussing this last night, need to take this seriously right now and start charting out what does that look like.
One other point I'll say about sort of a lesson from economic history, and you see this a little bit in the discussion I just gave. Economists who've studied how steam power got replaced by electric power or how information technology diffused throughout the economy have highlighted repeatedly that these transformations take decades.
So again, if you took my class, you may remember this. Economists are infatuated with the question, who gets GDP? Who gets paid? Right? What share of GDP is paid to labor versus is paid as a return to capital?
Okay, and none of the numbers I'm going to show you should you take that seriously, but it's just helpful to see what happens and try to think about what the economic forces are at play and how important they might be. Okay. Before I show you the simulation going forward, let me give you another thought experiment that you can do in this model that's really interesting.
Okay, here's the growth rates over time. Economists love making everyone better off, and we say things like that about trade, and yet then you get the China shock and people
I think we should also say something that's unique to economics is the acceptance rate. Economics has unusually low acceptance rates. As far as I know, the Journal of Finance acceptance rate is around eight percent.
economic newspaper that is doing great media work.
economic business figures, you know, famous journalists, famous economic professors.
ecosystem enabling free media. We'll talk about FFmpeg, we'll talk about VideoLAN, VLC and all the other incredible video technology that is used probably by billions of people. So JB,
ecosystem—there's also a human culture that will, in the next few years, cease to exist, that
ecology, and behavior, so let's first maybe put ourselves in the time of the dinosaurs and imagine we're standing in front of a T.
Economic freedom, political freedom, and freedom of speech.
economic Europe has basically stag stagnated uh since the great financial crisis. This country, Britain in particular, has stagnated economically,
economists tell them that by 2100 if temperatures rise by 3° there'll be a
econ economic activity, meaning you've got to go into debt to be able to start a business. All these things end up
economy starts to get bad and there's a economic bubble collapse?
economics. Those policies went in went into effect in the '70s, '80s, and '90s.
economic theory. And it would be true, potentially, if markets were perfectly efficient and all this optionality
economy. I'm happy to talk about how he did that later. But inequality leads to
economy in the world. At the same time, uh, the American working class has been
ecosystem to work for a broad base of people all around the world. And so that
economic nodes, they're hitting uh hotels, uh they're hitting the airports.
economic advantage by seeing what the various executives are texting to each other. So there was a lot of a lot of
economy went to crap after the McDonald's dollar menu went away. But like, why is it always gasoline rather
economy never really recovered after that. What lessons could the Trump administration take from the
economic development that a country's in. It could happen regardless of the broad cultural, religious,
economy has made to lower birth rates is things like robotics automation actually
economic mobility. Do you really think the right is better at diagnosing
economic populism, left economic populism. Let's dig in
economy. Bitcoin. Right. Crypto. Exactly. And but people know a raw deal when they're in front of it.
economic, you know what I mean? It's like It's like all about value, ranking, body count, status, leverage, I mean, it