Social Security’s Financial Reality Is Worse than Reported
The Social Security Trustees recently released their annual Report on the projected finances of the program. The media, advocates, and the Commissioner himself trumpeted that the Report had good news. A closer look, however, reveals this optimism is misplaced.
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Regulating AI: My Long-Read Q&A with Bronwyn Howell
Today, I talk with Bronwyn Howell about how we should be thinking about regulating AI, based on what we know from recent history, and acknowledging AI’s great unpredictability. What follows is a lightly edited transcript of our conversation.
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Yet Another AI Copyright Suit Against OpenAI Underscores the Autonomy-Automaton Divide
The current litigation highlights a fundamental divide over AI: While the newspapers regard ChatGPT and its ilk as mere automatons that mindlessly perform whatever operations they’re programmed to perform, Microsoft and OpenAI present their technology as genuinely autonomous.
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Looking At Consumer Purchasing Power since 2019
Are Americans better off than they were four years ago? It’s the question that gets asked during every presidential election. And no doubt a new report from the Congressional Budget Office (CBO) will be used to help supply an answer.
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US Digital Trade Policy Is in Limbo… And That’s Not Good
As some nations move to clog up the internet with cross-border data impediments and forced data localization, the US remains on the sidelines, crippled by the Biden administration’s bow to the anti-global, anti-trade wing of the Democratic Party.
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Automation Isn’t Just One Thing: Insights from Two Census Datasets
Two recent Census Bureau datasets shed light on the adoption trends of robotics and artificial intelligence, revealing divergent paths for these technologies across different industries.
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10 reasons we must urgently get over our retirement crisis denial
Whether the deniers want to admit it or not, America is experiencing a retirement crisis.
The Biden 301 Tariffs
The Biden administration today announced a tariff review basically repeating Trump administration actions. Trump’s actions didn’t accomplish much due to China’s responses, yet this round from the US is just a bit more of the same thing. Trade policy toward China remains largely for show.
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Jared Bernstein, MMT, and Fighting Inflation
Supporters of Modern Monetary Theory made a surprise cameo on social media last week when a brief clip from their documentary “Finding the Money” went viral. In it, Council of Economic Advisers chair Jared Bernstein appeared to struggle to answer questions about the federal budget.
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The Best Expectation for a Federal Fiscal Fix Is to Have No Expectation
Wall Street certainly doesn’t appear to expect either Democrats or Republicans to get serious about deficits and debt on their own. A bit of evidence: a new report from Goldman Sachs that presents a gloomy forecast of political paralysis by Washington.
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