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Just as the British Pound was replaced by the US dollar, the dollar will be replaced by something else. Quite probably it will be an international unit determined by averaging the value of a basket of major currencies.
The US position as the dominant economic power is an historical fluke produced by the devastation of all of the other major powers in the Second World War. The US was the last man standing and domestically unscathed by the conflict. US GNP amounted to 50% of the world economy after the war but is now less than 25% and declining steadily as China and others grow at a faster rate. The US has been able to use its position to control the IMF, World Bank, WTO and other institutions to support the dominance of the dollar. Having the world oil markets denominated in dollars helps, too.
The deteriorating financial position of the United States and and its shrinking share of the global economy will eventually lead to the end of the dollar as a reserve currency. The US will use every possible device to retain its position and other countries will hesitate to challenge the dollar’s position until a clear alternative is presented. In the meantime, the overvaluation of the dollar is distorting international markets and has become in some ways a liability, but everyone is afraid of the possible consequences the fall of the dollar might have on the stability of the world economy.January 18, 2021 at 09:36 in reply to: ARTIFICIAL INTELLIGENCE – STEPHEN WOLFRAM / MAX TEGMARK – PARALLEL THINKERS? #7800
Boeing 737-Max killed a lot of people. Automation gone wrong. Didn’t understand it. Trusted? What bolx. It’s not the same as worrying about AI being a menace.
(Knight Capital – automated rating system – this distinction needs to be explained. Money, not malice.)
NO! WE ARE MAKING THE FUCKING SYSTEM. Mistakes aren’t alternate objectives being carried out spontaneously.
Try to express the AI fallacy.
The not knowing how it does what it does is more a matter of time working backward the calculations at ‘human speed” … which isn’t impossible, it’s just fucking pointless as the thing being done doesn’t merit the deconstruction.
Needs a real world analogy.
SHAKESPEARE’S HAMLET ACT 2, SCENE 2
“I have of late—but wherefore I know not—lost all my mirth, forgone all custom of exercises, and indeed it goes so heavily with my disposition that this goodly frame, the earth, seems to me a sterile promontory; this most excellent canopy, the air—look you, this brave o’erhanging firmament, this majestical roof fretted with golden fire—why, it appears no other thing to me than a foul and pestilent congregation of vapors. What a piece of work is a man! How noble in reason, how infinite in faculty! In form and moving how express and admirable! In action how like an angel, in apprehension how like a god! The beauty of the world. The paragon of animals. And yet, to me, what is this quintessence of dust? Man delights not me. No, nor woman neither, though by your smiling you seem to say so.”
Wikipedia publishes SparkNotes superficial reading as if it’s the definitive meaning of the monologue.
Wikipedia for Hamlet Act 2, Scene 2 >> The SparkNotes student guide suggests Hamlet is saying that although humans may appear to think and act “nobly” they are essentially “dust”. Overall, SparkNotes interprets the ‘what a piece of work is a man’ speech as an example of Hamlet expressing his melancholy to his old friends over the difference between the best that men aspire to be, and how they actually behave; the great divide that depresses him.
Not quite, Spark-bo-dini…