Economics and the New Global Disorder with Lawrence H. Summers | Markus Academy | Ep. 150

Follow the link for the full summary: https://markusacademy.substack.com/p/... Link to sign up for the webinar series: https://markusacademy.substack.com/ On Wednesday, September 10, Lawrence H. Summers joined Markus’ Academy for a lecture. Lawrence H. Summers is the Charles W. Eliot University Professor and President Emeritus of Harvard University and a board member of OpenAI. During the past three decades, he has served in a series of senior policy positions in Washington, D.C., including the 71st Secretary of the Treasury for President Clinton, Director of the National Economic Council for President Obama and Vice President of Development Economics and Chief Economist of the World Bank. Introductory remarks by Markus Brunnermeier. Timestamps: [0:00] Part 1: Technological Progress [6:55] Solow Paradox or not? [8:20] Labor augmenting vs. savings and the Jevon's Paradox [10:03] Recursive nature due to automation of ideas [17:27] Will the meaning of being human change? [21:10] Human community, social interaction and AI companion [23:42] Designed or spontaneous progress [28:04] Concentration of power [38:14] Distribution of fruit of technical progress and UBI [45:00] Part 2: Populism [47:00] Elites, university politics, [53:00] The democratic party in the US [56:08] Part 3: Geopolitics [1:00:06] Can mistakes be undone? [1:04:01] The role of the US dollar [1:10:19] Concluding Part: Lessons for Economists