Random Posts For Non-Meshugeners

[JACKBLUE]

I swear it's like some people on this forum have just lost the ability to think.

I swear DDF made a huge  change the last year or so.....

[ChaimMoskowitz]

I swear DDF made a huge  change the last year or so.....

Probably around Jan 2017.

[JACKBLUE]

Probably around Jan 2017.

?

[ChaimMoskowitz]

?

That's when I notice many not being able to think straight.

[JACKBLUE]

That's when I notice many not being able to think straight.

LOL! Took me a min to get this one!

[mmgfarb]

That's when I notice many not being able to think straight.

You sure it wasn't around April 2017?

[ChaimMoskowitz]

You sure it wasn't around April 2017?

No, I am pretty sure on Jan but I can be mistaken.

[Definitions]

Interesting thought. Correct me if I'm wrong.
If it's possible to create a robot that can learn to do everything a person can do then everything will be free and money won't exist anymore.

[ExGingi]

Interesting thought. Correct me if I'm wrong.
If it's possible to create a robot that can learn to do everything a person can do then everything will be free and money won't exist anymore.

You're taking it to the extreme and over simplifying it, but you are on to something that economists and central bankers are well aware of: automation is highly deflationary. That is one of the reasons why despite record low unemployment, inflation is virtually non-existent.

[ChaimMoskowitz]

That is one of the reasons why despite record low unemployment, inflation is virtually non-existent.

I wouldn't call 2.5+ non-existent. Employment is only one factor out of many that effects inflation.

[etech0]

Interesting thought. Correct me if I'm wrong.
If it's possible to create a robot that can learn to do everything a person can do then everything will be free and money won't exist anymore.

http://www.decisionproblem.com/paperclips/

[ExGingi]

I wouldn't call 2.5+ non-existent. Employment is only one factor out of many that effects unemployment.

None of this is an accurate science, and a lot of it is subjective. Of great importance are actually inflation expectations. The important factor is that automation, and other technological advances, are making goods and services cheaper to produce, while eliminating jobs.

[whYME]

Employment is only one factor out of many that effects unemployment.

Um what?

[ChaimMoskowitz]

Um what?

Oops.

[ChaimMoskowitz]

None of this is an accurate science, and a lot of it is subjective. Of great importance are actually inflation expectations. The important factor is that automation, and other technological advances, are making goods and services cheaper to produce, while eliminating jobs.

I am not disagreeing but we also have things like sanctions and now some wage growth that will put pressure on inflation. SS raise is 2.8% in Jan.

[Definitions]

You're taking it to the extreme and over simplifying it, but you are on to something that economists and central bankers are well aware of: automation is highly deflationary. That is one of the reasons why despite record low unemployment, inflation is virtually non-existent.

The assumption that we can get robots that can learn everything is extreme but I wouldn't say impossible. But assuming it's true why is it extreme to say that's what will happen?
I was actually trying to think of a way how someone can stop it from happening if we do get such robots. I couldn't really think of a way.
Then I was thinking of it's effects...

The second part about inflation and unemployment I didn't really think it through so I don't understand it yet.

[zh cohen]

The assumption that we can get robots that can learn everything is extreme but I wouldn't say impossible. But assuming it's true why is it extreme to say that's what will happen?

Because there is more to the price of goods than the cost of labor in producing them.

This is a fascinating topic. We may be living through the equivalent (or bigger) of the industrial revolution.

[Definitions]

Because there is more to the price of goods than the cost of labor in producing them.

For example?

[as2]

For example?

The actual goods? The cost of running said robots would need to be covered as well.

[Yehuda57]

For example?

Energy and materials.