Paid
Artificial Intelligence: To Infinity & Beyond!
4 min read
paid
Before the Age of AI, economists were taught that there are only three factors of production, namely, Land, Labor, and Capital. The job of economists is to optimize the allocation of these scarce resources to maximize output (i.e., real GDP). Now, economists should recognize that there is a fourth factor of production, namely, Data. This resource is unlimited. But until AI, it wasn't very useful because it
-
Ed Yardeni
-
Elias Griepentrog