What do you mean? The Market Economics Fairy is way better at emitting sparkles from her wand than anyone else, and has no special talent for managing hedge funds.
Just how much better than everyone else is she? Perhaps her comparative advantage is in creating a power company. Spend early revenue on recursively improving (ie. research that is money limited) sparkle → electricity conversion then spend later revenue on hiring people to do FAI research so she can maintain and consolidate her overall advantage as technology makes sparkle power obsolete.
Unfortunately for the rest of us the FAI creates an environment that degenerates into a Hansonian Hell (then further into mere cosmic commons burning). If it behaved like a FAI and did the smart thing and became a singleton the market economics fairy would disintegrate into a puff of vapor—presumably not part of her extrapolated volition. Once someone has won (secured control via overwhelming intelligence advantage) ‘Market Economics’ becomes nothing more than a charade. Yet maintaining an environment where market economics hold sway ensures a steady evolution towards more efficient competition which will tend toward one of two obvious local minima (burn the earth or, more likely, burn the light cone, depending on whether the leap to interstellar is viable for anyone at any point in the economic competition.)
The Market Economics Fairy must (eventually) die or we will!
(Pardon the Newsomlike tangential stream. It seems relevant/interesting/important to me at least!)
Just how much better than everyone else is she? Perhaps her comparative advantage is in creating a power company. Spend early revenue on recursively improving (ie. research that is money limited) sparkle → electricity conversion then spend later revenue on hiring people to do FAI research so she can maintain and consolidate her overall advantage as technology makes sparkle power obsolete.
Unfortunately for the rest of us the FAI creates an environment that degenerates into a Hansonian Hell (then further into mere cosmic commons burning). If it behaved like a FAI and did the smart thing and became a singleton the market economics fairy would disintegrate into a puff of vapor—presumably not part of her extrapolated volition. Once someone has won (secured control via overwhelming intelligence advantage) ‘Market Economics’ becomes nothing more than a charade. Yet maintaining an environment where market economics hold sway ensures a steady evolution towards more efficient competition which will tend toward one of two obvious local minima (burn the earth or, more likely, burn the light cone, depending on whether the leap to interstellar is viable for anyone at any point in the economic competition.)
The Market Economics Fairy must (eventually) die or we will!
(Pardon the Newsomlike tangential stream. It seems relevant/interesting/important to me at least!)