←back to thread

AI capex is so big that it's affecting economic statistics

(paulkedrosky.com)
339 points throw0101c | 2 comments | 18 Jul 25 19:59 UTC | HN request time: 1.826s | source
Show context
jonas21 ◴[18 Jul 25 21:09 UTC] No.44609857[source]▶
I don't know... 1.2% of GDP just doesn't seem that extreme to me. Certainly nowhere near "eating the economy" level compared to other transformative technologies or programs like:

- Apollo program: 4%

- Railroads: 6% (mentioned by the author)

- Covid stimulus: 27%

- WW2 defense: 40%

replies(18): >>44609903 #>>44609914 #>>44609929 #>>44609942 #>>44609978 #>>44610058 #>>44610176 #>>44610526 #>>44610627 #>>44610705 #>>44610847 #>>44611010 #>>44611147 #>>44611151 #>>44611385 #>>44612266 #>>44612358 #>>44614934 #
raincole ◴[18 Jul 25 21:18 UTC] No.44609942[source]▶
Yeah that's my first reaction to. 1.2% doesn't sound much. It's just people making headlines out of thin air. If it lists the water and energy consumption I might be more concerned.

Slightly off-topic, but ~9% of GDP is generated by "financial services" in the US. Personally I think it's a more alarming data point.

replies(5): >>44610013 #>>44610794 #>>44611558 #>>44611598 #>>44613030 #
linotype ◴[18 Jul 25 21:25 UTC] No.44610013[source]▶
https://youtu.be/HA1YKg_OLBw

Financial services makes the unrealistic consumption of rich countries possible. That’s worth 9%.

replies(3): >>44610067 #>>44610538 #>>44610672 #
anticorporate ◴[18 Jul 25 21:31 UTC] No.44610067[source]▶
Wait, so we could end unrealistic consumption in rich countries and get 9% of our economy back to doing something useful? Sounds like a win-win.
replies(3): >>44610080 #>>44610115 #>>44611819 #
rogerrogerr ◴[18 Jul 25 21:34 UTC] No.44610080[source]▶
Yes, and you could go back to agrarian life too! Win-win-win!

The finance industry's ability to teleport value across time and space is a massive boon for quality of life across the world.

replies(1): >>44610186 #
goda90 ◴[18 Jul 25 21:49 UTC] No.44610186[source]▶
I can't help but wonder if there's a middle ground between people not being able to obtain credit to pursue new enterprises, and entire productive enterprises being swallowed up in the pursuit of short-term rent seeking.
replies(1): >>44610236 #
1. Ntrails ◴[18 Jul 25 21:54 UTC] No.44610236[source]▶
Could such a middle ground exist? Sure. Could someone design a system where that middle ground was a natural equilibrium? Unsure. I don't see how you incentivise the goldilocks behaviour (but I am not the smartest bear so maybe someone else can)
replies(1): >>44610558 #
2. wizzwizz4 ◴[18 Jul 25 22:38 UTC] No.44610558[source]▶
There's a good book on this topic by a Scottish philosopher: An Inquiry into the Nature and Cauſes of the Wealth of Nations by Adam Smith, LL. D. and F. R. S, formerly Profeſſor of Moral Philoſophy in the Univerſity of Glasgow.