The cost of computing has decreased, but the cost of thinking is what it always was...

Cambridge, UK & Athens, GREECE
Joined November 2013
#econtwitterNew paper: An Olympic Opportunity? joint work with @EKyrkopoulou & @EliasPapaioann2 You know all about the #MovingtoOpportunity program, a randomized housing mobility project in five US cities. Now, you are going to learn all about the #Olympic #Opportunity!
1
1
13
1,213
It was amazing having the mighty @sanjog_misra from @ChicagoBooth at our seminar series @CambridgeJBS presenting some really thought provoking new #AI work on #Agentic #Interactions (joint @alexolegimas Kevin Lee) to a packed room!
1
13
1,310
Ώπα κάπου, γιατί γεμίσαμε πάλι με μάγους που βγάζουν κουνέλια από το καπέλο τους! Παρέμβαση Σαμαρά για την ακρίβεια - Ζητά μειώσεις φόρων. Όπως, π.χ. να πάει ΦΠΑ στο 13% στην Εστίαση! Ας δούμε, λοιπόν, τι έγινε την τελευταία φορά που μειώθηκε ο συντελεστής ΦΠΑ στην εστίαση:
1
4
250
Είναι αυτό το φαινόμενο ελληνική πρωτοτυπία; Όχι! Στη διεθνή βιβλιογραφία έχει το όνομα του φαινομένου "της ρουκέτας και του φτερού" (rocket and feather) για να υποδηλώσει ότι όταν οι φόροι μειώνονται οι τιμές πέφτουν πολύ αργά (σαν φτερό).
1
1
26
Κάπου ώπα με τους λαϊκιστές και τις εύκολες λύσεις! Τα δοκιμάσαμε και ξέρουμε. Αρκετά!
1
25
There is no better way starting the #academic #seminar year than having an old friend @SeilerStephan from @ImperialBiz presenting super interesting new work on the #nutritional and #welfare impact of #UK #sugar #taxes @CambridgeJBS @Cambridge_Uni
1
1
11
368
Christos Genakos retweeted
7th Summer School in Advanced Economics Causal Inference: A Practical and Modern Approach With @causalinf, @pedrohcgs & @jmwooldridge . 📍 Preveza, Greece Apply here 👇 app.oxfordabstracts.com/stag…… More info advecon.ac.uoi.gr
11
51
11
276
26,420
Christos Genakos retweeted
Auf wiedersehen #gergre
1
14
160
5,412
Christos Genakos retweeted
Everybody has heard of the Luddites, but few know Sir Thomas Maitland, the man who defeated them. Rather than using brute force to take them all out, Maitland simply identified the men he took to be ringleaders, had them arrested on evidence that was often thin, and executed them. Hit one, educate a hundred. This is the strategy that the British magazine The Economist seems to have adopted toward the new version of the Luddites: AI critics. Rather than the public execution, they use the public humiliation of the anti-AI ringleaders, with equally scant evidence. Whatever its editors intended, the critical piece against @DAcemogluMIT, published by the magazine on August 17th, functions less like a conventional assessment of scholarship than like an act of intellectual discipline. I have long criticized important parts of Daron’s work, and I am not afraid to expose weaknesses in his reasoning, as I have in the latest episode of my Capitalisn’t podcast: youtube.com/watch?v=rOnrvBzJ…. But I would never have written that piece. If The Economist had objections to his Nobel Prize, it should have raised them when it was awarded. But it did not. If it had objections to his paper on demography, it should have raised them when the paper came out. But it did not. Why does the British magazine raise these questions only now? Why does it do a review of a book that is not about AI, but only reviews the half-chapter he wrote about AI? I have read The Economist for more than thirty years. I cannot remember it ever attacking a living economist in this ad hominem way, let alone one of Daron's caliber. The piece is not really about Daron. It is a warning shot. If the Economist can humiliate the leading economist of my generation, imagine what it can do to anybody else who criticizes AI. Criticize the new incarnation of the latest technological wonder, and your weakest paper becomes your body of work. Praise it, and your weakest paper is never mentioned at all or even celebrated like a great piece of scholarship. If AI delivers even half of its promises, it will be transformative, ushering in a new era of productivity and growth, as the first industrial revolution was and possibly even more. Many professional economists only see these long-run benefits. Yet, the path to Nirvana is littered with the bodies of the people hurt during the transition. It took between 50 and 70 years after the start of the First Industrial Revolution for workers' wages to begin rising. In the meantime, life expectancy stagnated, and average height declined, a clear sign that the Dickensian stories of squalor and misery were not the product of their author’s imagination but a real account of what the country went through. Criticizing AI is not necessarily resisting progress; it is pointing out the costs it entails. Unlike 19th-century Great Britain, today, the democratic West is not forced to maximize the speed of innovation at all costs. We need a serious public debate on the costs and benefits of acceleration, with concrete proposals for minimizing transition costs. This debate needs critical voices like Daron’s. In the undemocratic Great Britain of the early 19th century, Lord Maitland was not serving the British people, but the British merchant elite, who had only to gain by putting the innovation pedal to the metal, since the costs were borne by others. In the interest of whom is The Economist publicly humiliating Daron?
30
168
34
566
158,431
One of the #best #books to read about the impact of #AI on the #labour market and #firm org boundaries, super clearly written with great examples, cannot recommend it enough!🤘Well done @lugaricano, Jin Li & Yanhui Wu👍
9
252
20th #CRESSE anniversary, honouring Yannis #Katsoulakos for his immense contribution to #econ #competition #regulation #antitrust #IO of bringing together top #academics (@JeanTirole #Rey) & #policy makers around the world in beautiful #Greek island conferences 🌊🌞🤘
1
10
359
Big shout for this amazing #book that brings anyone interested in #AI back to earth and the real issues and problems with this amazing new #technology. Straight in the reading list of the @TechPolicyMPhil @CambridgeJBS @random_walker @sayashk
6
125
Christos Genakos retweeted
Στρατηγική είναι η υλοποίηση. Η φιλοσοφία που ενέπνευσε το gov. gr διαμορφώθηκε χρόνια νωρίτερα στο Λονδίνο, μέσα από ένα βιβλίο που έγινε το εγχειρίδιο του ψηφιακού μετασχηματισμού για κυβερνήσεις σε όλο τον κόσμο. wired.com.gr/article/i-strat…
1
4
1
12
1,365
One more amazing @cepr_org Applied #IO at the #eternal #city with a fantastic lineup of #speakers and #Italian #food and #hospitality at Luiss Uni. Super 🙏 to @EmilioC_ & @fschivardi
1
14
633
Brexit will kill every prime minister who doesn't kill Brexit
174
1,361
66
16,473
385,019
Christos Genakos retweeted
☘️😱 𝝩𝝤 𝝖𝝙𝝞𝝖𝝢𝝤𝝜𝝩𝝤 𝝨𝝤𝝪𝝩 𝝩𝝤𝝪 𝝬𝝚Ϊ𝝛-𝝢𝝩𝝚Ϊ𝝗𝝞𝝨 𝝥𝝤𝝪 𝝚𝝙𝝮𝝨𝝚 𝝩𝝜 𝝢𝝞𝝟𝝜 𝝨𝝩𝝤 𝝥𝝖𝝢𝝖𝝝𝝜𝝢𝝖Ϊ𝝟𝝤 𝗔𝗞𝗧𝗢𝗥 🙇 Φοβερό! Ασύλληπτο! Μα είναι για break! 🚨 Αυτό είναι το buzzer-beater του Νάιτζελ Χέιζ-Ντέιβις που.... ξέρανε τη Βαλένθια μέσα στο σπίτι της, σε νεκρό χρόνο, κάνοντας το "πράσινο" 2-0 στα play-offs.
2
11
1
105
4,729