Mensing.AI

My journey into AI/ML/DL and other areas of interest.

Will Robots Understand Value? 💹

A while back I wrote about how I didn’t think robots would become the new consumers in capitalism. Turns out I’m not the only one. 👬

This piece scratches my economics itch in a lot of ways, but I think the heart of it is the fact that we typically believe the economy/market/capitalism operates like a rational machine and not an organism reacting to the wants and desires of a collection of irrational flesh bags. 👥

But the threat is not real for the simple reason that the efficiency of production is not the problem that economy tries to solve. The actual problem is the use of scarce means to produce want satisfaction. Both means and ends are valued subjectively. Robots do not value.

This, once again, gets to the core of my AI belief system, that we shouldn’t try to recreate human brains in silicon or assume that AGI or superintelligence will mimic humanity’s actions and desires. It just seems like egoism disguised as science. ⚗️

I want to include two quotes pertaining to value that I really liked in this piece. I think they are often forgotten or misunderstood. 💱

The natural resource it the same, but the economic resource – the value of it – was born with the inventions. Indeed, oil became useful in engines, because those engines satisfy consumers’ wants. The value in oil is not its molecular structure, but how it is being used to satisfy wants.

A good, sold in a market, is not its physical appearance, but the service it provides consumers in their attempts to satisfy wants. In other words, a good provides use value. And value is always in the eyes of the user. The value of any means derives from its contribution to a valuable economic good.

For further reading that provides another angle on why I don’t think robots and AIs will just slip into the existing capitalism and perpetuate it check out this piece by Umair Haque.

Src: Mises Institute

Leave a Reply

Your email address will not be published. Required fields are marked *