knb comments on Unteachable Excellence - Less Wrong

36 Post author: Eliezer_Yudkowsky 02 March 2009 03:33PM

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Comment author: knb 02 March 2009 06:05:07PM *  8 points [-]

Presumably this is because allocation of capital drastically augments the labor that people do. (investing in a farm allows a farmer to replace his hand-plow with a tractor, drastically increasing output). I learned Intro. Econ from Greg Mankiw's textbook "Principles of Economics" and I was very impressed by his reasoning.

If this wasn't a sincere question then I apologize: my ability to read sarcasm is limited.

Comment author: Benja 02 March 2009 06:53:28PM 1 point [-]

No, no, I do do sarcasm, but that wasn't a specimen. :) Thanks! I've put it on my reading list.

Comment author: nazgulnarsil 03 March 2009 02:18:41AM 1 point [-]

the simple answer is that when you reinvest you have to reinvest in something. Lots of people investing in lots of companies = more competition = better world.