The Economics of the Singularity
How will the Singularity impact economic productivity?
The Singularity - a potential future event that represents computers overtaking human intelligence - is one of the most talked about ideas on Big Think. However, here is a perspective that we don't often see. How will the Singularity impact economic productivity?
You will get $40 trillion just by reading this essay and understanding what it says.
That's what Ray Kurzweil famously wrote in his 2001 essay, "The Law of Accelerating Returns." Now that's a bit hard to grasp. On the other hand, here is how Robin Hanson, an economist at George Mason University in Washington, D.C., put it to NBC News:
The past two singularities — the Agricultural and Industrial revolutions — led to a doubling in economic productivity every 1,000 and 15 years, respectively, said Robin Hanson, an economist at George Mason University in Washington, D.C., who is writing a book about the future singularity. But once machines become as smart as man, the economy will double every week or month.
"It's about having employees that are empowered."
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According to the World Economic Forum's Global Competitiveness Report 2018, the nation tops an index measuring "willingness to delegate authority" at work, beating 139 other countries.
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