There’s No Easy Path Through the AI Transition
It’s important to reveal such limitations so that the AI policy discourse can move on to mechanisms more likely to address the real concerns of the American people.
“Trending” policy ideas tend to garner attention for all the wrong reasons: they seem like silver bullet solutions that will save us from taking on much harder reforms. Proposals to share profits from leading AI companies with the public are the latest example. It’s the rare policy scheme that seems to have united President Donald Trump, Senator Bernie Sanders, and CEOs at the leading AI labs. While the proposals for AI profit sharing vary in their precise details, a quick review of their likely outcomes should quickly deflate the popular excitement that has formed in response to calls for new taxes, public wealth funds, and the like. It’s important to reveal such limitations so that the AI policy discourse can move on to mechanisms more likely to address the real concerns of the American people.
Economic Dynamism
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Social Mobility Wins
When people live within an environment offering good jobs, good education, social networks, and a culture of self-improvement and hard work, they experience progress in a way that undercuts the philosophical rationale that socialists need to justify the policies they advocate.
Kevin Warsh and the Future of Fed Communication
Warsh is right that the Federal Reserve should not speak so loudly that it hears only its own echo.
