Re: AI and Interest rates

[John Clark]

On Sun, Jun 4, 2023 at 1:51 PM Brent Meeker  wrote:

*> You need land for the solar panel power farms.*


As Freeman Dyson pointed out, you don't need land or even the Earth in
order to get useful work out of the sun.
John K ClarkSee what's on my new list at  Extropolis

dff

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Re: AI and Interest rates

[Brent Meeker]

On 6/4/2023 3:30 AM, John Clark wrote:
On Sat, Jun 3, 2023 at 7:47 PM Stathis Papaioannou 
 wrote:


/> Higher productivity puts downward pressure on inflation or
causes deflation. If you believe you can buy more goods in the
future that you can today for your money, you will not spend it
today./


But you've left survival out of your thinking. Even today it would be 
possible to survive on just a few hundred dollars a year, you might be 
living on the streets but you'd survive, and in the future it would 
only cost you a few pennies to do the same. So if you don't survive 
the singularity it won't be because you don't have enough money. And 
if you don't survive then money in the future will be worthless to you 
so you might as well spend it today and have some fun with it.


/> you will leave it in the bank, even if they offer low interest
rates./


But that just kicks the problem upstairs. Forget a "/low interest 
rate/", what will the bank invest the money you give it in that allows 
it to give you even a zero interest rate and not a negative one?  
Brent mentioned land being a good investment but if you could 
manufacture food directly from the elements then you wouldn't need 
vast amounts of land for farming and ranching, and with virtual 
reality getting better and better there will be no need for sports 
stadiums or movie theaters or office buildings or shopping malls or 
golf courses. And Mark Twain will be proven wrong,we will be able to 
make more land, they're called space settlements.


You need land for the solar panel power farms.

Brent

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