Average is Over by Tyler Cowen

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Ryan HolidayHunter@ryanholiday · Author, Ego is the Enemy
One of the most important books I've ever read. Printed out at passage from to put on my wall. I've bought for multiple other people. Cowen’s books have always been thought provoking, but this one changes how you see the future and help explain real pain points in our new economy–both good and bad. Although much of what Cowen proposes will be uncomfortable, he has a tone that borders on cheerful. I think that’s what makes this so convincing and so eye opening. A hollowing out is coming and you’ve got to prepare yourself (and our institutions) as best you can. To me, this book belongs along side other econo/social classics like Brave New War, Bowling Alone and The Black Swan.
Ryan HolidayHunter@ryanholiday · Author, Ego is the Enemy
@ryanholiday Here's the passage To put the question in the bluntest possible way, let’s say that machine intelligence helps us make a lot more things more cheaply, as indeed it is doing. Where will most of the benefits go? In accord with economic reasoning, they will go to that which is scarce. In today’s global economy here is what is scarce: 1. Quality land and natural resources 2. Intellectual property, or good ideas about what should be produced. 3. Quality labor with unique skills Here is what is not scarce these days: 1. Unskilled labor, as more countries join the global economy 2. Money in the bank or held in government securities, which you can think of as simple capital, not attached to any special ownership rights (we know there is a lot of it because it has been earning zero or negative real rates of return) Tyler Cowen, Average is Over
Erik TorenbergHiring@eriktorenberg · Former Product Hunt
@ryanholiday awesome choice. excited for our AMA/podcast with Tyler Cowen later this month
Ty Martin@tymrtn · Founder, Turf.ly
I was very intrigued by the insight Tyler offers about women's advantages in the economy based on their increased conscientiousness over men (and this is something I've seen myself). This interview response sums it up fairly well, although I think the book does a better job of explaining why conscientiousness is so valuable in the future. "Well, one thing we are going to get very good at in the future--you see it now--is just measuring quality. So, whether it's doctors, lawyers, economics professors, there's always a randomized control trial now; there are always numerical ratings. Everything has a Yelp rating or an Amazon rating or something. And we all know these are highly imperfect but basically they are still better than not being informed at all. So it's like in the future there's a credit score for everything. So people who test well young I think will have a lot more invested in them early in their lives, early in their careers; and they'll have a head start. And another way to think of this is, I think, within 5 years the world's best education will be available online and it will be free. Arguably that's already the case. But the question is: Who is there to learn from this? It's the people who are disciplined and conscientious, which is still distinct from just raw intelligence. Now, if you ask the question if you compare men to women on average which group is less conscientious, I think you have to hand that one to the men. At least the lower tail of the distribution. So I think we already see in higher education and many other areas women doing better. And not just better because there is less prejudice. They are just outright doing better and out-competing the men. And I think that trend will be magnified by this increase value for conscientiousness."