It improves the chance that further Market Economics will happen by rewarding people who produce it. It goes without saying that Market Economics is a terminal value to the Market Economics Fairy. If she was just interested in profit, she’d be starting a hedge fund instead of going around telling people about Market Economics.
Market Economics fairy should consider starting a hedge fund anyway and investing that money into a lobby group or other means of promoting Market Economics. I sincerely doubt emitting sparkles from her wand is where her comparative advantage lies.
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.
Well now you’ve proved that the Market Economics Fairy should quit her job and found a startup aimed at roboticizing sparkle production. I hope you’re happy.
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!)
The Market Economics Fairy is pleased with you! She blesses you with sparkles from her wand!
What profit does she get from dispensing sparkles?
It improves the chance that further Market Economics will happen by rewarding people who produce it. It goes without saying that Market Economics is a terminal value to the Market Economics Fairy. If she was just interested in profit, she’d be starting a hedge fund instead of going around telling people about Market Economics.
Market Economics fairy should consider starting a hedge fund anyway and investing that money into a lobby group or other means of promoting Market Economics. I sincerely doubt emitting sparkles from her wand is where her comparative advantage lies.
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.
Maybe, but I’m pretty sure there are substitutes: both for the role of sparkles, and manual production of them using a wand.
Well now you’ve proved that the Market Economics Fairy should quit her job and found a startup aimed at roboticizing sparkle production. I hope you’re happy.
Very. :D
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!)
Who do you think is behind Ayn Rand?