Almost any situation with enough disutility to counter GDP doubling seems like it would, paradoxically, involve conditions that would reduce GDP (war, large-scale civil unrest, huge tax increases to support a bigger welfare state).
I think there was substantial ambiguity in my original phrasing, thanks for catching that!
I think there are at least four ways to interpret the statement.
It’s not hard for me to imagine situations bad enough to be worse than doubling GDP is good
1. Interpreting it literally: I am physically capable (without much difficulty) of imagining situations that are bad to a degree worse than doubling GDP is good.
2. Caplan gives some argument for doubling of GDP that seems persuasive, and claims this is enough to override a conservatism prior, but I’m not confident that the argument is true/robust, and I think it’s reasonable to believe that there are possible bad consequences that are bad enough that even if I give >50% probability (or >80%), this is not automatically enough to override a conservatism prior, at least not without thinking about it a lot more.
3. Assume by construction that world GDP will double in the short term. I still think there’s a significant chance that the world will be worse off.
4. Assume by construction that world GDP will double, and stay 2x baseline until the end of time. I still think there’s a significant chance that the world will be worse off.
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To be clear, when writing the phrasing, I meant it in terms of #2. I strongly endorse #1 and tentatively endorse #3, but I agree that if you interpreted what I meant as #4, what I said was a really strong claim and I need to back it up more carefully.
Makes sense, thanks! The use of “doubling GDP is so massive that...” made me think that you were taking that as given in this example, but worrying that bad things could result from GDP-doubling that justified conservatism. That was certainly only one of a few possible interpretations; I jumped too easily to conclusions.
I think there was substantial ambiguity in my original phrasing, thanks for catching that!
I think there are at least four ways to interpret the statement.
1. Interpreting it literally: I am physically capable (without much difficulty) of imagining situations that are bad to a degree worse than doubling GDP is good.
2. Caplan gives some argument for doubling of GDP that seems persuasive, and claims this is enough to override a conservatism prior, but I’m not confident that the argument is true/robust, and I think it’s reasonable to believe that there are possible bad consequences that are bad enough that even if I give >50% probability (or >80%), this is not automatically enough to override a conservatism prior, at least not without thinking about it a lot more.
3. Assume by construction that world GDP will double in the short term. I still think there’s a significant chance that the world will be worse off.
4. Assume by construction that world GDP will double, and stay 2x baseline until the end of time. I still think there’s a significant chance that the world will be worse off.
__
To be clear, when writing the phrasing, I meant it in terms of #2. I strongly endorse #1 and tentatively endorse #3, but I agree that if you interpreted what I meant as #4, what I said was a really strong claim and I need to back it up more carefully.
Makes sense, thanks! The use of “doubling GDP is so massive that...” made me think that you were taking that as given in this example, but worrying that bad things could result from GDP-doubling that justified conservatism. That was certainly only one of a few possible interpretations; I jumped too easily to conclusions.
That was not my intent, and it was not the way I parsed Caplan’s argument.