Hey, thanks for the comments. Your point about a bull market is welcome, and I think similar to the point that Phil made in the 80kh podcast. Some nitpicks:
Nino → Nuño
When people say that “capital depreciates”, they generally mean ” capital investments”, i.e., machinery, computers, etc.
Note that labor depreciates at a rate d, in the sense that people move out of the movement because of value drift, but it also increases in value because of productivity improvements (see the exponentials in the model)
But in models in which labor replicated itself (i.e., there was some “naturally arising movement-building”), we still didn’t see that earning to give (in the sense of earning a salary) was favored in the limit either.
Hey, thanks for the comments. Your point about a bull market is welcome, and I think similar to the point that Phil made in the 80kh podcast. Some nitpicks:
Nino → Nuño
When people say that “capital depreciates”, they generally mean ” capital investments”, i.e., machinery, computers, etc.
Note that labor depreciates at a rate d, in the sense that people move out of the movement because of value drift, but it also increases in value because of productivity improvements (see the exponentials in the model)
I think that depreciation of labor is actually empirically motivated, e.g., by https://forum.effectivealtruism.org/posts/eRQe4kkkH2pPzqvam/more-empirical-data-on-value-drift
But in models in which labor replicated itself (i.e., there was some “naturally arising movement-building”), we still didn’t see that earning to give (in the sense of earning a salary) was favored in the limit either.
I am sorry for the misspelling of your name. This is fixed.
This fault is mine, but it was not intentional, I think this was caused by autocorrect acting silently during writing.