Executive summary: The emergence of artificially sentient beings raises moral, political, and legal issues that deserve scrutiny.
Key points:
The private sector spends much more on R&D than the public sector despite the large positive externalities from R&D.
Governments have incentives to care about spatial externalities (between firms/consumers) but not temporal ones.
Private firms care about long-term returns so invest more in R&D with delayed payoffs.
Evidence suggests social returns to R&D are very high, so more investment is likely beneficial.
Government underinvestment may be explained by political incentives, not just externality theory.
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Executive summary: The emergence of artificially sentient beings raises moral, political, and legal issues that deserve scrutiny.
Key points:
The private sector spends much more on R&D than the public sector despite the large positive externalities from R&D.
Governments have incentives to care about spatial externalities (between firms/consumers) but not temporal ones.
Private firms care about long-term returns so invest more in R&D with delayed payoffs.
Evidence suggests social returns to R&D are very high, so more investment is likely beneficial.
Government underinvestment may be explained by political incentives, not just externality theory.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.
The executive summary is entirely hallucinated.