NancyLebovitz comments on A speculation on Near and Far Modes - Less Wrong
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Compare investment in railroads in the 19th century to investment patterns today. As Eliezer once said, that sounds like the sort of problem a financial system would solve. Too bad our society doesn't have a financial system.
The civilized world wasn't ever rational enough to develop AGI safely. It just used to be rational enough to plug holes in the Gulf of Mexico, to build Levees that worked, and to avoid rapid successions of speculative bubbles.
The ultimate test, IMHO, is GDP growth rate, but then again, I don't believe the official numbers for that, so...
What would a financial system look like?