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Price's Law and Its Implications on Society Amid Exponential Change and Artificial General Intelligence
Introduction #Psychoeconomics #PricesLaw #Economics #Enhance The statistical patterns governing creativity, productivity, and the distribution of work are deeply fascinating and contain surprising implications for individual development and societal functioning. A prime example of this lies in the enigmatic Price's Law. Derived from the realm of work in scientometrics by Derek J. de Solla Price, this law proposes that half of all contributions are made by the square root of the total number of contributors. In the modern-day context, we might say that a few productive individuals within a group contribute a majority of the output. ...
IMF Report: AGI and Automation Threaten Job Destruction in 5-20 Years
AGI and automation will lead to the destruction of all human jobs within 5 to 20 years, with potential implications for various sectors and the economy Questions to inspire discussion What is the frontier of automation? —The frontier of automation refers to the increasing task complexity that machines are capable of, with the potential for AI to eventually subsume all human task complexity. Will machines surpass human capacities? —Yes, machines, including AGI, AI, robots, and automation, will eventually surpass all human capacities, leading to the destruction of all jobs within 5 to 20 years. What are the potential implications for...
The Future of Labor Economics in the Age of AGI: Implications for the Economy
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