#minsky — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #minsky, aggregated by home.social.
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RE: https://mastodon.social/@bagrounds/116287067126445779
Good summary of the many interesting, overarching theory-of-mind concepts found in Marvin Minsky's The Society of Mind.
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Thesis:
"Ai is not making profits canard."We are misapplying a quarterly reporting framework to what might be the last #infrastructure #investment category in history. Where the returns are structurally deferred but theoretically civilisational in scale.
👉CIVILISATIONAL IN SCALE 👈
Many individual AI companies are absolutely in Ponzi territory. But the aggregate investment, like the fiber optic overbuild of the 1990s, is laying infrastructure whose returns accrue to survivors and society long after the current investors are wiped out.
Dismissing AI investment on "no current revenue" grounds is the equivalent of dismissing Telcos fiber rollout in late 1990 because it wasn't profitable that quarter.
The relevant question isn't present earnings. It's whether the underlying productive capacity is real, and who ultimately captures the returns when they materialise. This is why its super imprtant that #AiRegulation is a thing. Will the infinite future profits go to the oligarchs or to the people.
#AiSlop #AiResearch #AiEconomy #Economy #minsky #mmt #orthodoxy #Ai #NoAi #RoI
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"The report highlighted some of Europe’s weaknesses, including its openness to global trade, its reliance on advanced technology and essential materials and minerals from overseas, as well as its high energy costs."
#Securitisation is pooling financial assets (such as Small and Medium Enterprise loans or mortgages) into interest-bearing, tradable securities.
William Thomson: https://braveneweurope.com/william-thomson-more-securitisation-creates-less-financial-security
#finance #securities #Europe #EU #EuropeanCommission #banking #lobbying #economics #Minsky #MMT
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“ #Minsky (is) very good on all that – the #financialsystem that should be serving the needs of the real #economy actually causes great instability. He deserves credit for that.” #books #JohnMaynardKeynes #Keynes #HymanMinsky #economics fivebooks.com/best-books/r...
John Maynard Keynes