0%

Waskunst

Overview

  • Founded Date August 3, 1907
  • Sectors Security Guard
  • Posted Jobs 0
  • Viewed 6

Company Description

Tech Tycoons have Got the Economics of AI Wrong

Even as financial development was simply taking off, some economists were already cynical. Coal, wrote William Stanley Jevons in 1865, is “the mainspring of modern-day material civilisation”. Yet it was finite and would soon run out. Although more could be found by digging deeper, it would be progressively costly to extract and these greater expenses would minimize the competitiveness of Britain’s producers. After all, in other nations the black fuel was still in sight of daytime. Efficiency gains-using less coal to produce the same amount of stuff-would not conserve the nation. Indeed, cleverer use of would just provide an incentive to burn much more coal, which would, paradoxically, cause an even much faster usage of British reserves. There was no escape, the Victorian financial expert believed. Coal would be exhausted and the nation was likely to “contract to her former littleness”.

Explore more

This post appeared in the Finance & economics area of the print edition under the headline “Rocked by DeepSeek”

Finance & economics February 1st 2025

Donald Trump’s financial warfare has a new front

Will America’s crypto craze end in catastrophe?

Don’t let Donald Trump see our Big Mac index

Giorgia Meloni has grand banking ambitions

Can Germany’s economy phase an unexpected healing?

Why your portfolio is less diversified than you may believe

Tech tycoons have actually got the economics of AI wrong

From the February 1st 2025 edition

Discover stories from this area and more in the list of contents

More from Finance & economics

Why your portfolio is less varied than you might think

The most essential concept in modern finance has actually ended up being maddeningly difficult to implement

Can Germany’s economy phase an unexpected healing?

The circumstance is dire, but there are glimmers of hope

Giorgia Meloni has grand banking ambitions

Will Italy’s nationalist prime minister handle to concentrate monetary power?

Donald Trump’s financial warfare has a new front

The president has actually threatened to blow up the global tax system. Will allies have the ability to stop him?