The economics of populism just doesnt add up
Interpreting the rise of machine intelligence as a drop in the cost of prediction doesnt offer an answer to
every specific question of how the technology will play out. But it yields two key implications: 1) an
A vegetable vendor in a marketplace.
Economists study trade, production and consumption decisions, such as those that occur in a traditional
Two men sit at computer monitors with financial information.
In Virtual Markets, buyer and se
What will it take to make a recount happen?
Well, Stein has already filed for a recount in Wisconsin. The deadlines for filing a motion to recount in
the other two states are very soon: Pennsylvania (Nov. 28) and Michigan (Nov. 30). At the time of writing
Main articles: Theory of the firm, Industrial organization, Business economics, and Managerial
People frequently do not trade directly on markets. Instead, on the supply side, they may work in and
produce through firms. The most obvious ki
Your questions about the potential US election recount, answered
Pressure is mounting from Hillary Clintons supporters for a recount of votes in three key states that
Donald Trump narrowly won in the recent presidential election. Jill Stein, who ran for t
Effects of Human activities on Mother Nature and the entire gross economy
All human activities can be described by five high-level components: data, prediction, judgment, action,
and outcomes. For example, a visit to the doctor in response to pain leads t
The year 1995 was heralded as the beginning of the New Economy. Digital communication was set to
upend markets and change everything. But economists by and large didnt buy into the hype. It wasnt
that we didnt recognize that something
Main articles: Division of labour, Comparative advantage, and Gains from trade
A map showing the main trade routes for goods within late medieval Europe.
Specialization is considered key to economic efficiency based on theoretical and empir
Is there evidence that electronic-voting machines were hacked?
Halderman then took to Medium Thursday to clarify:
Were this years deviations from pre-election polls the results of a cyberattack? Probably not. I believe
the most likely explanation is that
The same goes for machine intelligence and prediction. As the cost of prediction falls, not only will
activities that were historically prediction-oriented become cheaper like inventory management and
demand forecasting but we will also use prediction to