
Massage Verrassing
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Founded Date 19 8 月, 1977
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Sectors 財務/會計
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Tech Tycoons have actually Got the Economics of AI Wrong
Even as financial growth was simply removing, some economic experts were already pessimistic. Coal, composed William Stanley Jevons in 1865, is “the mainspring of modern-day material civilisation”. Yet it was limited and would quickly go out. Although more could be found by digging deeper, it would be significantly pricey to extract and these greater costs would reduce the competitiveness of Britain’s manufacturers. After all, in other countries the black fuel was still in sight of daylight. Efficiency gains-using less coal to produce the very same quantity of stuff-would not conserve the country. Indeed, cleverer usage of minimal resources would simply provide an incentive to burn much more coal, which would, paradoxically, cause an even quicker use of British reserves. There was no escape, the Victorian financial expert believed. Coal would be tired and the nation was most likely to “contract to her previous littleness”.
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This short article appeared in the Finance & economics section of the print edition under the heading “Rocked by DeepSeek”
Finance & economics February 1st 2025
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Tech magnates have got the economics of AI wrong
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