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@JulianOliver@mastodon.social

2026-06-24 11:35 UTC

We keep hearing we can't be 'competitive' without hugging AI, & yet a growing body of research asserts this is in fact bovine manure. Check out this steely take from Nobel Laureate (Econ) Daron Acemoglu: "[...]roughly 0.55% in total factor productivity gains is what AI will actually deliver over the next decade, a fraction of Wall Street’s euphoric projections." He insists what we should really b focusing on is that AI is simply about vastly extending corporate power https://fortune.com/2026/06/21/nobel-laureate-daron-acemoglu-ai-productivity-capitalism-democracy/

Replies (8)

  • TBH the 'revolution risk' he talks about sounds pretty good around about now. Bring it on I reckon.

    Open ##4625515

  • @JulianOliver@mastodon.social Revolution is already under way. Liberals only are able to acknowledge reality in retrospect though, so give them another 50 years to catch up.

    Open ##4625519

  • @crazyeddie@mastodon.social 2026-06-24 13:28

    @JulianOliver@mastodon.social "The gap between what LLMs do well in demos and what they do reliably in complex, high-stakes professional environments remains, in his view, far wider than the industry’s marketing suggests." I concur :p

    Open ##4625520

  • @JulianOliver@mastodon.social ai and citizen united -- just one hell courtesy of the roberts court

    Open ##4625521

  • @whatzaname@mstdn.social 2026-06-24 14:26

    @JulianOliver@mastodon.social @tante@tldr.nettime.org listening to politicians insist that data centers are inevitable reminds me-- we need to end capitalism before it ends us.

    Open ##4625522

  • @EZA026@mastodon.social 2026-06-24 14:48

    @JulianOliver@mastodon.social The most interesting question isn't whether AI is overhyped or underhyped—it's who captures the gains if the productivity gains actually arrive.

    Open ##4625523

  • @JulianOliver@mastodon.social Fuck being competitive. Why are we forced to compete against each other all the time? We should cooperate instead!

    Open ##4625524

  • @JulianOliver@mastodon.social Here's Daron Acemoglu making a point I often also make - even down to the example of markets in the Soviet Union... "“I don’t like the term capitalism,” he [Acemoglu] said. “It makes it sound like there is a uniform model that includes Sweden, Egypt, Argentina, Honduras, the United States, South Korea, Japan. There’s no overlap between these economies, how they are organized.” The only overlap he sees is that they have markets, “but so did the Soviet Union.” "His preferred frame, developed across Why Nations Fail and The Narrow Corridor with co-author James Robinson, is inclusive versus extractive institutions. The question isn’t whether a country has markets, but whether its economic and political rules broaden participation and reward innovation — or whether they concentrate power at the top and extract value from everyone else."

    Open ##4625525