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Desrtopa comments on How minimal is our intelligence? - Less Wrong
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Isn’t this kind of thing archetypal of knowledge that in no way contributes to human welfare?
Perhaps, but note that this wasn’t a precursor to killing people; people were being widely killed regardless. But the modern attention is not on the rape, murder, pillage, etc... it’s on the book-burning. Why the distorted values?
Alvin Roth is no doubt a bright guy, but the idea that he has done more lasting good for humanity than, say, Sam Walton, is absurd. You’re right that Bill Gates has made a huge impact – but his lasting good was achieved by selling computer software, not through the mostly foolish experimentation done by his foundation. Sure, some academics have done some good (although you wildly overstate it) but you have to consider the opportunity cost. The high status of academics causes us to get more academic research than otherwise, but it also encourages our best and brightest to waste their lives in the study of arcana. Can anyone seriously doubt that, on the margin, we are oversupplied with academics, and undersupplied with entrepreneurs and businessmen generally?
I wouldn't be so sure about that. I'm not about to investigate the economics of their entire supply chain (I already don't shop at Walmart simply due to location, so it doesn't even stand to influence my buying decisions,) but I wouldn't be surprised if Walmart is actually wealth-negative in the grand scheme. They produce very large profits, but particularly considering that their margins are so small and their model depends on dealing in such large bulk, I think there's a fair likelihood that the negative externalities of their business are in excess of their profit margin.
It's impossible for a business to be GDP negative, but very possible for one to be negative in terms of real overall wealth produced when all externalities are accounted for, which I suspect leads some to greatly overestimate the positive impact of business.
Why focus on the negative externalities rather than the positive? And why neglect all the partner surpluses - consumer surplus, worker surplus, etc? I'd guess that Walmart produces wealth at least an order of magnitude greater than its profits.
Because corporations make a deliberate effort to privatize gains while socializing expenses.
GDP is a pretty worthless indicator of wealth production, let alone utility production; the economists who developed the measure in the first place protested that it should by no means be taken as a measure of wealth production. There are other measures of economic growth which paint a less optimistic picture of the last few decades in industrialized nations, although they have problems of their own with making value judgments about what to measure against industrial activity, but the idea that every economic transaction must represent an increase in well-being is trivially false both in principle and practice.
This is true of everyone, not just corporations. I'm very suspicious that you take this scepticism only against corporations, but not academics.
Someone who is doing research that is published and doesn't lead to direct patents is socializing gains whether or not they want to.
Only if there are any gains to socialize. Consider honestly the societal gain from the marginal published paper, particularly given that it gets 0 cites from other papers not by the same author.
So, I'd be curious what evidence you have that the average paper gets 0 citations from papers not by the same author across a wide variety of fields. But, in any event, the marginal return rate per a paper isn't nearly as important as the marginal return rate per a paper divided by the cost of a paper. For many fields (like math), the average cost per a paper is tiny.
Either I cannot write clearly or others cannot read clearly, because again and again in this thread people are responding to statements that are not what I wrote. The common factor is me, which makes me think it is my failure to write clearly, but then I look at the above. I referred to "the marginal published paper", and even italicised the word marginal. JoshuaZ replies by asking whether I have evidence for my statement about "the average paper." I don't know what else to say at this point.
However, yes, I have plenty of evidence that the marginal paper across a wide variety of fields gets 0 citations, see e.g. Albarran et al. Note incidentally that there are some fields where the average paper gets no citations!
I don't think a marginal paper is a thing (marginal cost isn't a type of cost, but represents a derivative of total cost). Do you mean that
d(total citations)/d(number of papers) = 0?This seems impossible, unless all papers get no citations, ie. no-one cites anyone but themselves. That actually happens?
Sorry, in this context, I switched talking about the marginal to talking about the average. You shouldn't take my own poor thinking as a sign of anything, although in this context, it is possible that I was without thinking trying to steel man your argument, since when one is talking about completely eliminating academic funding, the average rate matters much more than the marginal rate. But the citation you've given is convincing that the marginal rate is generally quite low across a variety of fields.
That being a large portion of academia, this presents at least a partial argument for the present state of affairs wrt academia being publicly funded.
The majority of people, other than psychopaths, are not as ruthless in the quest to externalize their costs. A substantial portion of academics sacrifice renown and glory to do research they believe has intrinsic value. This is in large part the reason they can be paid so much less than people of equivalent ability in the private sector.
I agree with your general point about business men and entrepreneurship being undervalued however.
As zslatsman already said, this is not true to nearly as great an extent of most people as it is of corporations. Corporations have an obligation to maximize profits, whereas humans are rarely profit maximizers.
Some people are more willing to externalize costs than others. For instance, some people, given the opportunity to file expense reports under which they can cover luxuries, will take the opportunity to live it up as much as possible on someone else's dollar. Other people, myself included, would feel guilty, and try to be as frugal as possible.
Try not to overgeneralize your own mentality.
Uh huh. Is it true of charities?