Hmm fair enough, I didn’t consider that there would already be a lot of specialization between authors and copyists pre-press. Still, I think I can rewrite the paragraph to remove this error and preserve the parts relevant to the overall post:
>First: the printing press. In 1400, the labor and skill that went into copying a book made up the majority of its value. Authors confronted with a future where the most valuable part of each of their books is automated for a tiny fraction of the cost might understandably be terrified. Each book would be worth a tiny fraction of what they were worth before, surely not enough to support a career.
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That’s not a part of any of the plans to cancel student debt that have been implemented or are being considered. That would definitely change a lot of the arguments but I don’t think it would make debt cancellation look like a much better policy, though the reasons it was bad would be different.
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Firms are actually better than governments at internalizing costs across time. Asset values incorporate the potential future flows. For example, consider a retiring farmer. You might think that they have an incentive to run the soil dry in their last season since they won’t be using it in the future, but this would hurt the sale value of the farm. An elected representative who’s term limit is coming up wouldn’t have the same incentives.
Of course, firms incentives are very misaligned in important ways. The question is: Can we rely on government to improve these incentives.
Daniel and I continue the comment thread here
https://open.substack.com/pub/maximumprogress/p/ai-regulation-is-unsafe?r=awlwu&utm_campaign=comment-list-share-cta&utm_medium=web&comments=true&commentId=54561569
A couple of reasons why authors might be worried about the press:
It’s a massive change to the technology of what they produce. This comes with lots of uncertainty and fear.
It commodifies books and massively decreases the unit price. Depending on how much you think quantity demanded will change, it could easily decrease your income. E.g, if the press came around and no one read any more books, it would be scary for authors and many would be out of work since now a single author can produce 100x more books.