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Discussion (17 Comments)Read Original on HackerNews
Almost all of the theory and predictions presented seems to be those of regular classical economics, per Smith, Riccardo, and particularly George. You can find them in Wealth of Nations, Progress and Poverty. This surprises people who have been failed by our education systems. There are still many people writing about this exact topic now - the author does mention e.g Stiglitz.
The author seems to be overcome by the explanatory power of a 150-250 year-old well-established economic theory, of which fable has built a fairly general (novel? improved?) macro model for him, including the effects of certain tax policies. They present this as a new theory of economics rather than a new macro model.
It's very off-putting as a reader - you can't distinguish at a glance between what the author claims to have contributed vs merely discovered by reading about Georgism. Established concepts are not referred to be their usual names, etc.
There is no term for human value here, and it is values that set prices. Scarcity is not itself a value. A particular snowflake or UUID being unique adds no demand. Wages are set in the context of every possible opportunity that the employer can imagine, as ordered by values. So a wage-predicting equation needs arguments that measure all of those value-weighted opportunities against paying a given wage, but this one doesn't. And "That's it" seems to declare them not relevant.
Edit: Just for fun I just defeated it with AI-generated text that it reported as 100% human-written. Great stuff. Truly genius scam.
The only counter example is when a human composed a piece deliberately trying to mimic AI slop.
So call it an AI slop detector if you want, but either way it accurately identifies stuff I don't wan't to read.
Is that the level of sensitivity we're looking for? More than literally 0%? Do you know how crazy it'd be to achieve that, even if they were trying to?
What do you believe are the most important contributions here over standard Georgism or Ricardo's theory of rents?