måndag 12 juni 2017

Marx analysis is will be even more important in the future

I just saw a video on YouTube about the future of automation. I agree with most of what is said there. However, what is not discussed is how to deal with it. The political implications of the development.

The difference between those who own means of production and those who do not will grow further. This is a key point in Marx analysis of the interplay on the capitalist market.  Of course, his solution was not very successful, and hence, we are in a desperate need to investigate how to deal with the situation.

I would like to propose some embryos to solving the situation. It is obvious that we will need to abandon the idea of continues growth. This is not a sustainable scenario. At least not in the setting it plays out now.

Another thing that perhaps could be used and put into the analysis is irrational players. Game theory is the basic framework in which economics is done. It that is all well and good. however, the central assumption of rational players is not true. Thus, that should be replaced by irrational players. One such scheme would be to let the players also act randomly to some degree. That could be used to model irrational players. There will be many questions that needs to be answered about irrational players and game optimum with irrational players. E.g. prior distributions of random moves.

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