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Category: economics – Page 51

It’s Time to Consider the Federal Land Dividend

Here’s my new Opinion essay at Newsweek. It’s about the need to use our nation’s massive natural resources to pay for a bipartisan tax free universal basic income, called the Federal Land Dividend. I hope you will read and share it!

In 2018, I began lecturing about the Federal Land Dividend, a bipartisan tax-free Universal Basic Income (UBI) based on monetizing the 640 million acres of mostly unused federally owned land. Due to the lasting effects of the coronavirus pandemic, which include a struggling U.S. economy, there is increasing interest in implementing basic income plans. The Federal Land Dividend is the only method that is both bipartisan and tax free.

An estimated 50 percent of the 11 most western states are mostly empty land that belong to the government. Estimates say this land and its resources are worth approximately $100 to $200 trillion. If we divide the middle— $150 trillion —by America’s population of 333 million, every person would have approximately $450,000 in equity. That’s much higher than the median net worth in America of $122,000.

The Federal Land Dividend aims to lease out land and natural resources to big business that agree, in exchange, to pay a monthly income to all Americans. It’s estimated that if just 60 percent of America’s unused federal land was leased out at fair rates, a $1,000 monthly check could be sent to all Americans—regardless of age—for decades if not centuries. Because land and raw materials often move in tandem with inflation, payouts could increase with inflation. Furthermore, this plan does not touch any national parks whatsoever. Much of this land is in places that few humans ever visit or see.

Some conservatives support the Federal Land Dividend idea because it will boost big business while providing an economic stimulus to all Americans. Some liberals also support the idea because it will dramatically help end poverty. Even some libertarians like the idea because it returns the value of federal land to the people, instead of the government hoarding and controlling it.

ChatGPT boosts writing productivity, finds new MIT study

ChatGPT decreased the time it took workers to complete certain writing tasks by 40 percent and increased output quality by 18 percent.

A new MIT study has found that access to the assistive chatbot ChatGPT decreased the time it took workers to complete certain writing tasks by 40 percent and increased output quality by 18 percent.

This is according to a press release by the institution published on Friday.

“What we can say for sure is generative AI is going to have a big effect on white collar work,” said Shakked Noy, a PhD student in MIT’s Department of Economics, who co-authored the paper with fellow PhD student Whitney Zhang ’21.

Harnessing Hydrogen in a Safe, Easy, and Affordable Way for a Decarbonized Future

Japanese scientists have discovered a compound, ethylammonium lead iodide, which can store and release ammonia safely and efficiently. This finding holds potential for ammonia’s role as a carbon-free hydrogen carrier, contributing to the transition towards a decarbonized society.

Researchers at the RIKEN Center for Emergent Matter Science (CEMS) in Japan have discovered a compound that uses a chemical reaction to store ammonia, potentially offering a safer and easier way to store this important chemical. This discovery, published in the Journal of the American Chemical Society on July 10, makes it possible not only to safely and conveniently store ammonia, but also the important hydrogen is carries. This finding should help lead the way to a decarbonized society with a practical hydrogen economy.

For society to make the switch from carbon-based to hydrogen-based energy, we need a safe way to store and transport hydrogen, which by itself is highly combustible. One way to do this is to store it as part of another molecule and extract it as needed. Ammonia, chemically written as NH3, makes a good hydrogen carrier because three hydrogen atoms are packed into each molecule, with almost 20% of ammonia being hydrogen by weight.

AI Taking Jobs Could Benefit Economy, Says Marc Andreessen: ‘It’s A Process Of Change And People Get Freaked Out’

Entrepreneur and venture capitalist Marc Andreessen is among the many people speaking out about the opportunities and risks of artificial intelligence and the growth of ChatGPT. The comments from Andreessen come as valuations have risen for artificial intelligence stocks.

What Happened: Fresh off his report called “Why AI will save the world,” Andreessen shared more details on the opportunities for artificial intelligence during a recent podcast appearance.

Andreessen argued that AI could save the world, a bold claim that includes looking at the religion of sorts of the AI movement.

The economic potential of generative AI: The next productivity frontier

All of us are at the beginning of a journey to understand generative AI’s power, reach, and capabilities. This research is the latest in our efforts to assess the impact of this new era of AI. It suggests that generative AI is poised to transform roles and boost performance across functions such as sales and marketing, customer operations, and software development. In the process, it could unlock trillions of dollars in value across sectors from banking to life sciences. The following sections share our initial findings.

For the full version of this report, download the PDF.

Generative AI’s impact on productivity could add trillions of dollars in value to the global economy. Our latest research estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases we analyzed—by comparison, the United Kingdom’s entire GDP in 2021 was $3.1 trillion. This would increase the impact of all artificial intelligence by 15 to 40 percent. This estimate would roughly double if we include the impact of embedding generative AI into software that is currently used for other tasks beyond those use cases.

Turbo-charging productivity in Asia: the economic benefits of generative AI

Generative AI’s potential to unleash creativity, accelerate discovery, and enhance efficiency could add trillions to Asian economies.

When it comes to the ability to generate, arrange, and analyze content, generative AI is a gamechanger—one with transformative social and economic potential.

As a technology that is democratized—one that doesn’t simply exist in a faraway lab or tech community in Silicon Valley, for instance—generative AI lowers the barriers to participation. In the age of generative AI, anyone can be a creator. But this also entails a profound workforce shift, changing the processes of production within the economy and, in turn, the types of tasks that are undertaken and the… More.

David Zuniga, Senior Director, In-Space Solutions, Axiom Space — Developing Low Earth Orbit Economy

Developing The Low Earth Orbit Economy On The World’s First Commercial Space Station — David Zuniga, Senior Director, In-Space Solutions, Axiom Space

David Zuniga is Senior Director of In-Space Solutions at Axiom Space (https://www.axiomspace.com/), a space infrastructure developer headquartered in Houston, Texas, which plans human spaceflight for government-funded and commercial astronauts, engaging in in-space research, in-space manufacturing, and space exploration. The company aims to own and operate the world’s first commercial space station, and Mr. Zuniga helps to develop strategy and growth around Axiom’s Low Earth Orbit (LEO) economy, also playing a critical role in business and technical integration of Axiom’s in-space manufacturing and research capabilities for Axiom Station architecture.

Mr. Zuniga has over 20 years of experience through engineering and business development in human spaceflight and the department of defense, developing system architectures and technology for deep space systems via the Constellation, Orion, and Gateway programs. He was a Certified Principal Engineer for Orion’s Air Revitalization System, and subsystem manager for NASA’s Gateway program for the Environmental Control and Life Support Systems (ECLSS) where he developed requirements and certification criteria for future architectures.

Mr. Zuniga also has helped to evolve strategy around growth for LEO commercialization through the Center for the Advancement of Science in Space (CASIS) where he created a pipeline and managed a portfolio for aerospace technology development projects on the International Space Station National Laboratory (ISS NL). He has also served in numerous committees around human spaceflight safety and commercialization, has been an invited speaker to brief NASA HQ on strategy for the ISS NL, and was the recipient of the top prize at NASA’s Ignite the Night competition through NASA iTech when serving as the managing director for the Danish Aerospace Company’s North American Division.

Mr. Zuniga earned Bachelor and Master of Science degrees in Mechanical Engineering from Texas A&M University and holds a graduate certification in Space Resources from Colorado School of Mines where he studied space policy, economics, and space resource utilization.

Continue reading “David Zuniga, Senior Director, In-Space Solutions, Axiom Space — Developing Low Earth Orbit Economy” | >

Marc Andreessen says we’re in a ‘freeze-frame moment’ with A.I.—and has advice for young people

Andreessen argues that thanks to A.I., “productivity growth throughout the economy will accelerate dramatically, driving economic growth, creation of new industries, creation of new jobs, and wage growth, and resulting in a new era of heightened material prosperity across the planet.”

This week, on the Lex Fridman Podcast, he offered advice to young people who want to stand out in what he describes in this “freeze-frame moment” with A.I.—where tools like ChatGPT and GPT-4 are suddenly available and “everybody is kind of staring at them wondering what to do.”

He noted that we’re now living in a world where vast amounts of information are at our fingertips and, with A.I. tools, “your ability both to learn and to produce” is dramatically higher than in the past. Such tools should allow for more “hyper-productive people” to emerge, he said. For example, there’s no reason authors and musicians couldn’t churn out far more books or songs than was customary in the past.

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