Creating the Future: Human Action and AI Action
Humans take a variety of actions. These interleave nicely, and each has its place.
The roles of customer, manager, and entrepreneur require using increasingly-more information to make projections amidst increasingly-greater uncertainty.
AI accesses large amounts of information, makes inferences, and will be able to generate and triage more possibilities. These complements to human capabilities will serve both humans and AI well.
As Customers, We Value
As customers, we purchase what we project will be the best uses of our earnings to satisfy our current and future needs and wants.
We save for future purchases. We use these savings to purchase investments.
We purchase the products we use. We know best what has most satisfied us. We project best what will most satisfy us.
Our purchases create quantitative data about value. They show whether producers have optimally created capacity and chosen asking prices.
As Managers, We Produce
When we act as managers, we create capacity. We design and construct a plant and operate it increasingly closer to capacity. We add increased capacity. We add another plant, then another.
We create improved efficiency. On some products, we reduce our asking prices, and more customers purchase.
We create increased value. On some products, we also increase our asking prices. For example, over time we have increased value and increased asking prices for safer, higher performing cars and trucks, and for more-fully-featured workhorse engineering software like AutoCAD and MathCAD.
We benefit from much near-certainty. We carry forward our past learning from experience about design, operations, marketing, and sales, producing various products using various plants.
We project what will pay off, we plan projects, and we design, construct, and start up plants. When we start our planning, we know the least we’ll ever know about what capabilities we might end up wanting, what problems we might face, and what solutions we might develop.
We green-light the plans that look the most attractive. Normally, these are the plans on which we have overlooked the most uncertainties. So normally compared to our projections, the costs end up higher and the returns end up lower.
But t
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
