How to Think About the Economy, AI, and social media w/ Mises Institute Senior Fellow Per Bylund—Decentralized Revolution #136 twitter.com/i/broadcasts/1…

Here's a reason we should not expect too much from #AI .

Don't forget - the paperback edition of A Modern Guide to Austrian Economics is still 40% off with the coupon code below.

Don't forget - the paperback edition of A Modern Guide to Austrian Economics is still 40% off with the coupon code below.

Only a handful of people have ever been named a Master @Cicerone – the highest certification for a beer craftsman – including Spears grad Patrick Combs, who overcame adversity to earn the recognition and start his dream business training brewers.

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Those in power have always wanted more control, but they have struggled to find justification for it. Not anymore. For two main reasons: the ruling class is more desperate (have more to lose) and common people increasingly question free speech (for short-term political reasons).

It also illustrates the problem that Mises wrote about in 1922. Socialism has no way to perform economic calculation.

Socialism divorces resource allocation from any measurement of returns produced by those resources.

And MMTers promote this divorce by monetary hand-waving.

It is wise to consult a dictionary before using terms you don't understand.

Key words are 'exact' and 'outcomes,' people. This is not difficult.

Per Bylund Indeed.