Ep. 352 The Beauty and Importance of Comparative Advantage
Bob goes solo to explain Adam Smith’s absolute advantage versus David Ricardo’s comparative advantage. This important concept underpins civilization itself. Mentioned in the Episode and Other Links of Interest: The infineo post on this numerical example. Bob’s book Lessons for the Young Economist has a discussion of comparative advantage (see chapters 8 and 19). Help support the Bob Murphy…
Ep. 275 Why the SuperAIs Won’t Steal Our Jobs or Slaughter Us, Part 2
Bob uses comparative advantage to to argue that human workers will always find a place in the economy, regardless of how productive super-AI systems may become. He then addresses the fear that superAIs will simply rearrange our molecules for building material. Mentioned in the Episode and Other Links of Interest: Part 1 of this series.…