The AI dooooooom thread

[DGuller]

I suppose I'm fatalist in the other way that I don't think there's an "answer" to the economy or politics. There will be boom and bust/cycles/pendulum swings of all kinds from politics to economics to cultural or social stuff.

Yes of course. But the lesson we learned from the 1875-1929 era was we can't just let them happen. We have to attempt to fight those cycles. By "unleashing" the economy from its shackles we are right back into disastrous busts ravaging the world every twenty years or so. The economy must be regulated to reduce the disastrous impact of those busts. The government must simply do everything in its power to limit these bubbles and mitigate their damage. They will still happen of course. See the failure of the...what were they called? The Nifty Fifty? The fifty "can't lose" stocks of the 1960s when they finally did lose in the 1970s. But as bad as that was it was no Depression of 1875 or Economic Crisis of 2008.

If you don't let the bubbles inflate, how are you going to have economy recover from the last bust?