While fears that AI will morph into something like the Terminator and try to destroy the world, the real threat from AI is that the authorities will use it to produce propaganda and public lies.
Did scarcity begin with Adam and Eve in the Garden of Eden? Or were human beings and their surroundings already bound by time and space before they ate the forbidden fruit?
New York City’s government has imposed draconian rent controls. The natural outcome, as economists note, has been massive shortages, as apartment owners no longer have an incentive to rent empty apartments.
Artificial intelligence has much to contribute as a consumption good and a producer’s good. However, there also are limitations in what AI can do, given it susceptible to the GIGO rule: Garbage in, garbage out.
The number of employed persons in the United States fell by 184,000, and full-time workers fell by 187,000. But Joe Biden tells us things are booming.
Mark discusses Ludwig von Mises's important contributions to free trade theory.
The right to be able to enter into contracts with others is fundamental to free markets and a free society. That means people should be able to engage in discrimination.
The United States survived the first Great Depression, although it permanently changed the role of government. Will excessive government spending and money creation lead to Great Depression II?
What were Abraham Lincoln’s religious beliefs? Not what most Americans would think. While a scoffer for much of his life, his wartime speeches spoke of “Providence” and developed a fatalistic worldview.
The “AI” in our present real-world hype is nothing like the sci-fi “creatures” of film; AI machines are nowhere near conscious beings.
