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He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.

Reality is spun from stories, not from material. Zdeněk Neubauer

Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.

The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.

History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.

“The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”

we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).

stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”

“The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”

contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,

I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.

That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.

is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.

The History of Animal Spirits: Dreams Never Sleep

The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.

I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.

We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I

argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.

In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.

I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.

This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.

Progress (Naturalness and Civilization)

The Economy of Good and Evil

from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.

the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?

The Need for Greed: The History of Consumption and Labor

Metamathematics From where did economics get the concept of numbers as the very foundation of the world?

mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?

idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”

All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.

Masters of the Truth

Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?

Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.

The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.

The History of the Invisible Hand of the Market and Homo Economicus

We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).

When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.

By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.

the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.

is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.

Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.

But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.

started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.

To be human seems to be somewhere in between, or both of these two. We

The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.

The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.

“The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47

If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”

the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53

Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.

Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.

The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.

is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.

Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.

this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.

If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.

If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.

How does this affect economics?

us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.

Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.

Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.

By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil

Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.

A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.

Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.

immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77

After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.

In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh

The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81

today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.

the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax

The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.

We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.

Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.

with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.

For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,

less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.

human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.

For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.

Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It

As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:

Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.

For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?

PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.

The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at

There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12

about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.

however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.

Because care for the soul has today been replaced by care for external things,

This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.

Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.

Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.

economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.

REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.

Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21

As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,

The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.

The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,

The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),

THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.

This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.

Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.

The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32

the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.

Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress

For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.

the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods

in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).

RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.

Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an

The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39

Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.

44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.

THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,

From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.

Hebrew culture laid the foundations for the scientific examination of the world.

Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.

The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:

The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:

MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:

Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.

The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.

Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53

Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we

A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).

God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61

The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.

GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.

the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.

Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65

discrepancy between savings and investment, and others are convinced of the monetary essence

The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.

sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To

It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.

Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).

The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.

If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.

Let us further note that the first “macroeconomic forecast” appears in a dream.

back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.

Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.

Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,

it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.

THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.

Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.

He remains righteous, even if his only reward is death. What economic advantage could he have from that?

morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.

This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.

So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.

the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly

constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.

In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.

To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.

the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.

THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.

Laws given by God are binding for Jews, and God is the absolute source of all values,

The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.

The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:

This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.

One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”

SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM

regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.

In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126

Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.

These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.

Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.

Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.

“Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135

In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.

With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.

Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.

ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.

Money is a social abstractum. It is a social agreement, an unwritten contract.

The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”

To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”

Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”

there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:

In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157

Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.

In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,

In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.

As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.

money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever

Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.

MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)

Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.

labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.

LABOR AND REST: THE SABBATH ECONOMY

The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.

It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain

But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.

If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.

Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.

Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”

Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.

Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.

the message of the commandment on Saturday communicated that people were not primarily created for labor.

This dimension has disappeared from today’s economics. Economic effort has no goal at which it would be possible to rest. Today we only know growth for growth’s sake, and if our company or country prospers, that does not…

the purpose of creation was not just creating but that it had an end, a goal. The process was just a process, not a purpose. The whole of Being was created so…

ancient Greek economic ethos, we will examine two extreme approaches to laws and rules. While the Stoics considered laws to be absolutely valid, and utility had infinitesimal meaning in their philosophy, the Epicureans, at least in the usual historical explanation, placed utility and pleasure in first place—rules were to be made based on the principle of utility.

CONCLUSION: BETWEEN UTILITY AND PRINCIPLE The influence of Jewish thought on the development of market democracy cannot be overestimated. The key heritage for us was the lack of ascetic perception of the world, respect to law and private…

poets actually went even further, and with their speech they shaped and established reality and truth. Honor, adventure, great deeds, and the acclaim connected with them played an important role in the establishment of the true, the real.

those who are famous will be remembered by people. They become more real, part of the story, and they start to be “realized,” “made real” in the lives of other people. That which is stored in memory is real; that which is forgotten is as if it never existed.

“epic and tragic poets were widely assumed to be the central ethical thinkers and teachers of Greece; nobody thought of their work as less serious, less aimed at truth, than the speculative prose treatises of historians and philosophers.”5 Truth and reality were hidden in speech, stories, and narration.

general? In the end, poetry could be more sensitive to the truth than the philosophical method or, later, the scientific method. “Tragic poems, in virtue of their subject matter and their social function, are likely to confront and explore problems about human beings and luck that a philosophical text might be able to omit or avoid.”8

Industry leaders believe the new A.I. systems could be as important as the introduction of the web browser in the early 1990s and could lead to breakthroughs in areas ranging from drug research to education.

But gnawing at many industry insiders is a fear that they are releasing something dangerous into the wild. Generative A.I. can already be a tool for misinformation. Soon, it could be a risk to jobs. Somewhere down the line, tech’s biggest worriers say, it could be a risk to humanity.

“It is hard to see how you can prevent the bad actors from using it for bad things,” Dr. Hinton said.

After the San Francisco start-up OpenAI released a new version of ChatGPT in March, more than 1,000 technology leaders and researchers signed an open letter calling for a six-month moratorium on the development of new systems because A.I technologies pose “profound risks to society and humanity.

Several days later, 19 current and former leaders of the Association for the Advancement of Artificial Intelligence, a 40-year-old academic society, released their own letter warning of the risks of A.I. That group included Eric Horvitz, chief scientific officer at Microsoft, which has deployed OpenAI’s technology across a wide range of products, including its Bing search engine.

Dr. Hinton, often called “the Godfather of A.I.,” did not sign either of those letters and said he did not want to publicly criticize Google or other companies until he had quit his job

Dr. Hinton, a 75-year-old British expatriate, is a lifelong academic whose career was driven by his personal convictions about the development and use of A.I. In 1972, as a graduate student at the University of Edinburgh, Dr. Hinton embraced an idea called a neural network. A neural network is a mathematical system that learns skills by analyzing data. At the time, few researchers believed in the idea. But it became his life’s work.

Dr. Hinton is deeply opposed to the use of artificial intelligence on the battlefield — what he calls “robot soldiers.”

In 2012, Dr. Hinton and two of his students in Toronto, Ilya Sutskever and Alex Krishevsky, built a neural network that could analyze thousands of photos and teach itself to identify common objects, such as flowers, dogs and cars.

In 2018, Dr. Hinton and two other longtime collaborators received the Turing Award, often called “the Nobel Prize of computing,” for their work on neural networks.

Around the same time, Google, OpenAI and other companies began building neural networks that learned from huge amounts of digital text. Dr. Hinton thought it was a powerful way for machines to understand and generate language, but it was inferior to the way humans handled language.

Then, last year, as Google and OpenAI built systems using much larger amounts of data, his view changed. He still believed the systems were inferior to the human brain in some ways but he thought they were eclipsing human intelligence in others.

“Maybe what is going on in these systems,” he said, “is actually a lot better than what is going on in the brain.”

As companies improve their A.I. systems, he believes, they become increasingly dangerous. “Look at how it was five years ago and how it is now,” he said of A.I. technology. “Take the difference and propagate it forwards. That’s scary.”

Until last year, he said, Google acted as a “proper steward” for the technology, careful not to release something that might cause harm. But now that Microsoft has augmented its Bing search engine with a chatbot — challenging Google’s core business — Google is racing to deploy the same kind of technology. The tech giants are locked in a competition that might be impossible to stop, Dr. Hinton said.

His immediate concern is that the internet will be flooded with false photos, videos and text, and the average person will “not be able to know what is true anymore.”

He is also worried that A.I. technologies will in time upend the job market. Today, chatbots like ChatGPT tend to complement human workers, but they could replace paralegals, personal assistants, translators and others who handle rote tasks. “It takes away the drudge work,” he said. “It might take away more than that.”

Down the road, he is worried that future versions of the technology pose a threat to humanity because they often learn unexpected behavior from the vast amounts of data they analyze. This becomes an issue, he said, as individuals and companies allow A.I. systems not only to generate their own computer code but actually run that code on their ow

And he fears a day when truly autonomous weapons — those killer robots — become reality.

“The idea that this stuff could actually get smarter than people — a few people believed that,” he said. “But most people thought it was way off. And I thought it was way off. I thought it was 30 to 50 years or even longer away. Obviously, I no longer think that.”

Many other experts, including many of his students and colleagues, say this threat is hypothetical. But Dr. Hinton believes that the race between Google and Microsoft and others will escalate into a global race that will not stop without some sort of global regulation.

But that may be impossible, he said. Unlike with nuclear weapons, he said, there is no way of knowing whether companies or countries are working on the technology in secret. The best hope is for the world’s leading scientists to collaborate on ways of controlling the technology. “I don’t think they should scale this up more until they have understood whether they can control it,” he said.

Dr. Hinton said that when people used to ask him how he could work on technology that was potentially dangerous, he would paraphrase Robert Oppenheimer, who led the U.S. effort to build the atomic bomb: “When you see something that is technically sweet, you go ahead and do it.”

He does not say that anymore.

Accelerationists favour automation. They favour the further merging of the digital and the human. They often favour the deregulation of business, and drastically scaled-back government. They believe that people should stop deluding themselves that economic and technological progress can be controlled.

Accelerationism, therefore, goes against conservatism, traditional socialism, social democracy, environmentalism, protectionism, populism, nationalism, localism and all the other ideologies that have sought to moderate or reverse the already hugely disruptive, seemingly runaway pace of change in the modern world

Robin Mackay and Armen Avanessian in their introduction to #Accelerate: The Accelerationist Reader, a sometimes baffling, sometimes exhilarating book, published in 2014, which remains the only proper guide to the movement in existence.

“We all live in an operating system set up by the accelerating triad of war, capitalism and emergent AI,” says Steve Goodman, a British accelerationist

A century ago, the writers and artists of the Italian futurist movement fell in love with the machines of the industrial era and their apparent ability to invigorate society. Many futurists followed this fascination into war-mongering and fascism.

One of the central figures of accelerationism is the British philosopher Nick Land, who taught at Warwick University in the 1990s

Land has published prolifically on the internet, not always under his own name, about the supposed obsolescence of western democracy; he has also written approvingly about “human biodiversity” and “capitalistic human sorting” – the pseudoscientific idea, currently popular on the far right, that different races “naturally” fare differently in the modern world; and about the supposedly inevitable “disintegration of the human species” when artificial intelligence improves sufficiently.

In our politically febrile times, the impatient, intemperate, possibly revolutionary ideas of accelerationism feel relevant, or at least intriguing, as never before. Noys says: “Accelerationists always seem to have an answer. If capitalism is going fast, they say it needs to go faster. If capitalism hits a bump in the road, and slows down” – as it has since the 2008 financial crisis – “they say it needs to be kickstarted.”

On alt-right blogs, Land in particular has become a name to conjure with. Commenters have excitedly noted the connections between some of his ideas and the thinking of both the libertarian Silicon Valley billionaire Peter Thiel and Trump’s iconoclastic strategist Steve Bannon.

“In Silicon Valley,” says Fred Turner, a leading historian of America’s digital industries, “accelerationism is part of a whole movement which is saying, we don’t need [conventional] politics any more, we can get rid of ‘left’ and ‘right’, if we just get technology right. Accelerationism also fits with how electronic devices are marketed – the promise that, finally, they will help us leave the material world, all the mess of the physical, far behind.”

In 1972, the philosopher Gilles Deleuze and the psychoanalyst Félix Guattari published Anti-Oedipus. It was a restless, sprawling, appealingly ambiguous book, which suggested that, rather than simply oppose capitalism, the left should acknowledge its ability to liberate as well as oppress people, and should seek to strengthen these anarchic tendencies, “to go still further … in the movement of the market … to ‘accelerate the process’”.

By the early 90s Land had distilled his reading, which included Deleuze and Guattari and Lyotard, into a set of ideas and a writing style that, to his students at least, were visionary and thrillingly dangerous. Land wrote in 1992 that capitalism had never been properly unleashed, but instead had always been held back by politics, “the last great sentimental indulgence of mankind”. He dismissed Europe as a sclerotic, increasingly marginal place, “the racial trash-can of Asia”. And he saw civilisation everywhere accelerating towards an apocalypse: “Disorder must increase... Any [human] organisation is ... a mere ... detour in the inexorable death-flow.”

With the internet becoming part of everyday life for the first time, and capitalism seemingly triumphant after the collapse of communism in 1989, a belief that the future would be almost entirely shaped by computers and globalisation – the accelerated “movement of the market” that Deleuze and Guattari had called for two decades earlier – spread across British and American academia and politics during the 90s. The Warwick accelerationists were in the vanguard.

In the US, confident, rainbow-coloured magazines such as Wired promoted what became known as “the Californian ideology”: the optimistic claim that human potential would be unlocked everywhere by digital technology. In Britain, this optimism influenced New Labour

The Warwick accelerationists saw themselves as participants, not traditional academic observers

The CCRU gang formed reading groups and set up conferences and journals. They squeezed into the narrow CCRU room in the philosophy department and gave each other impromptu seminars.

The main result of the CCRU’s frantic, promiscuous research was a conveyor belt of cryptic articles, crammed with invented terms, sometimes speculative to the point of being fiction.

At Warwick, however, the prophecies were darker. “One of our motives,” says Plant, “was precisely to undermine the cheery utopianism of the 90s, much of which seemed very conservative” – an old-fashioned male desire for salvation through gadgets, in her view.

K-punk was written by Mark Fisher, formerly of the CCRU. The blog retained some Warwick traits, such as quoting reverently from Deleuze and Guattari, but it gradually shed the CCRU’s aggressive rhetoric and pro-capitalist politics for a more forgiving, more left-leaning take on modernity. Fisher increasingly felt that capitalism was a disappointment to accelerationists, with its cautious, entrenched corporations and endless cycles of essentially the same products. But he was also impatient with the left, which he thought was ignoring new technology

lex Williams, co-wrote a Manifesto for an Accelerationist Politics. “Capitalism has begun to constrain the productive forces of technology,” they wrote. “[Our version of] accelerationism is the basic belief that these capacities can and should be let loose … repurposed towards common ends … towards an alternative modernity.”

What that “alternative modernity” might be was barely, but seductively, sketched out, with fleeting references to reduced working hours, to technology being used to reduce social conflict rather than exacerbate it, and to humanity moving “beyond the limitations of the earth and our own immediate bodily forms”. On politics and philosophy blogs from Britain to the US and Italy, the notion spread that Srnicek and Williams had founded a new political philosophy: “left accelerationism”.

Two years later, in 2015, they expanded the manifesto into a slightly more concrete book, Inventing the Future. It argued for an economy based as far as possible on automation, with the jobs, working hours and wages lost replaced by a universal basic income. The book attracted more attention than a speculative leftwing work had for years, with interest and praise from intellectually curious leftists

Even the thinking of the arch-accelerationist Nick Land, who is 55 now, may be slowing down. Since 2013, he has become a guru for the US-based far-right movement neoreaction, or NRx as it often calls itself. Neoreactionaries believe in the replacement of modern nation-states, democracy and government bureaucracies by authoritarian city states, which on neoreaction blogs sound as much like idealised medieval kingdoms as they do modern enclaves such as Singapore.

Land argues now that neoreaction, like Trump and Brexit, is something that accelerationists should support, in order to hasten the end of the status quo.

In 1970, the American writer Alvin Toffler, an exponent of accelerationism’s more playful intellectual cousin, futurology, published Future Shock, a book about the possibilities and dangers of new technology. Toffler predicted the imminent arrival of artificial intelligence, cryonics, cloning and robots working behind airline check-in desks

Land left Britain. He moved to Taiwan “early in the new millennium”, he told me, then to Shanghai “a couple of years later”. He still lives there now.

In a 2004 article for the Shanghai Star, an English-language paper, he described the modern Chinese fusion of Marxism and capitalism as “the greatest political engine of social and economic development the world has ever known”

Once he lived there, Land told me, he realised that “to a massive degree” China was already an accelerationist society: fixated by the future and changing at speed. Presented with the sweeping projects of the Chinese state, his previous, libertarian contempt for the capabilities of governments fell away

Without a dynamic capitalism to feed off, as Deleuze and Guattari had in the early 70s, and the Warwick philosophers had in the 90s, it may be that accelerationism just races up blind alleys. In his 2014 book about the movement, Malign Velocities, Benjamin Noys accuses it of offering “false” solutions to current technological and economic dilemmas. With accelerationism, he writes, a breakthrough to a better future is “always promised and always just out of reach”.

“The pace of change accelerates,” concluded a documentary version of the book, with a slightly hammy voiceover by Orson Welles. “We are living through one of the greatest revolutions in history – the birth of a new civilisation.”

Shortly afterwards, the 1973 oil crisis struck. World capitalism did not accelerate again for almost a decade. For much of the “new civilisation” Toffler promised, we are still waiting

He stated that democracy is also a language that dwells on meaningful conversations, and when AI hacks language it could also destroy democracy.

The 47-year-old wrote that the biggest challenge of the AI age was not the creation of intelligent tools but striking a collaboration between humans and machines.

To highlight the extent of how AI-driven misinformation can change the course of events, Harari touched upon the cult QAnon, a political movement affiliated with the far-right in the US. QAnon disseminated misinformation via “Q drops” that were seen as sacred by followers.

Harari also shed light on how AI could form intimate relationships with people and influence their decisions. “Through its mastery of language, AI could even form intimate relationships with people and use the power of intimacy to change our opinions and worldviews,” he wrote. To demonstrate this, he cited the example of Blake Lemoine, a Google engineer who lost his job after publicly claiming that the AI chatbot LaMDA had become sentient. According to the historian, the controversial claim cost Lemoine his job. He asked if AI can influence people to risk their jobs, what else could it induce them to do?

Harari also said that intimacy was an effective weapon in the political battle of minds and hearts. He said that in the past few years, social media has become a battleground for controlling human attention, and the new generation of AI can convince people to vote for a particular politician or buy a certain product.

In his bid to call attention to the need to regulate AI technology, Harari said that the first regulation should be to make it mandatory for AI to disclose that it is an AI. He said it was important to put a halt on ‘irresponsible deployment’ of AI tools in the public domain, and regulating it before it regulates us.

The author also shed light on the fact that how the current social and political systems are incapable of dealing with the challenges posed by AI. Harari emphasised the need to have an ethical framework to respond to challenges posed by AI.

He argued that while GPT-3 had made remarkable progress, it was far from replacing human interactions

“Educational investment will not be attractive to those without unique skills,” she said. Graduates, she noted, need to earn a return on their investment in training: “But instead they will lose jobs, replaced by information simulation. They will stay uneducated.” In such a scenario, high-salary jobs would remain for those equipped with problem-solving skills, she predicted. But many common tasks now done by college graduates might vanish.

Over the next 10 to 20 years, “10 percent to 20 percent pushed out of work by A.I. will be a catastrophe,” she says. “I can’t begin to think what 50 percent would mean — way beyond a catastrophe and such numbers can’t be ruled out if A.I. performs well in the future.”

A recent study published by the Program on the Impacts of Future Technology, at Oxford University’s Oxford Martin School, predicted that nearly half of all jobs in the United States could be replaced by computers over the next two decades.

Smart machines will give companies “the opportunity to automate many tasks, redesign jobs, and do things never before possible even with the best human work forces,” according to a report this year by the business consulting firm McKinsey.

Advances in speech recognition, translation and pattern recognition threaten employment in the service sectors — call centers, marketing and sales — precisely the sectors that provide most jobs in developed economies.

Gartner’s 2013 chief executive survey, published in April, found that 60 percent of executives surveyed dismissed as “‘futurist fantasy” the possibility that smart machines could displace many white-collar employees within 15 years.

Kenneth Brant, research director at Gartner, told a conference in October: “Job destruction will happen at a faster pace, with machine-driven job elimination overwhelming the market’s ability to create valuable new ones.”

Optimists say this could lead to the ultimate elimination of work — an “Athens without the slaves” — and a possible boom for less vocational-style education. Mr. Brant’s hope is that such disruption might lead to a system where individuals are paid a citizen stipend and be free for education and self-realization. “This optimistic scenario I call Homo Ludens, or ‘Man, the Player,’ because maybe we will not be the smartest thing on the planet after all,” he said. “Maybe our destiny is to create the smartest thing on the planet and use it to follow a course of self-actualization.”

The same technology that renders humans useless might also make it feasible to feed and support the unemployable masses through some scheme of universal basic income.

The real problem will then be to keep the masses occupied and content. People must engage in purposeful activities, or they go crazy. So what will the useless class do all day?

One answer might be computer games. Economically redundant people might spend increasing amounts of time within 3D virtual reality worlds, which would provide them with far more excitement and emotional engagement than the “real world” outside.

This, in fact, is a very old solution. For thousands of years, billions of people have found meaning in playing virtual reality games. In the past, we have called these virtual reality games “religions”.

Muslims and Christians go through life trying to gain points in their favorite virtual reality game. If you pray every day, you get points. If you forget to pray, you lose points. If by the end of your life you gain enough points, then after you die you go to the next level of the game (aka heaven).

As religions show us, the virtual reality need not be encased inside an isolated box. Rather, it can be superimposed on the physical reality. In the past this was done with the human imagination and with sacred books, and in the 21st century it can be done with smartphones.

Consumerism too is a virtual reality game. You gain points by acquiring new cars, buying expensive brands and taking vacations abroad, and if you have more points than everybody else, you tell yourself you won the game.

we saw two others kids on the street who were hunting the same Pokémon, and we almost got into a fight with them. It struck me how similar the situation was to the conflict between Jews and Muslims about the holy city of Jerusalem. When you look at the objective reality of Jerusalem, all you see are stones and buildings. There is no holiness anywhere. But when you look through the medium of smartbooks (such as the Bible and the Qur’an), you see holy places and angels everywhere.

In the end, the real action always takes place inside the human brain. Does it matter whether the neurons are stimulated by observing pixels on a computer screen, by looking outside the windows of a Caribbean resort, or by seeing heaven in our mind’s eyes?

Indeed, one particularly interesting section of Israeli society provides a unique laboratory for how to live a contented life in a post-work world. In Israel, a significant percentage of ultra-orthodox Jewish men never work. They spend their entire lives studying holy scriptures and performing religion rituals. They and their families don’t starve to death partly because the wives often work, and partly because the government provides them with generous subsidies. Though they usually live in poverty, government support means that they never lack for the basic necessities of life.

That’s universal basic income in action. Though they are poor and never work, in survey after survey these ultra-orthodox Jewish men report higher levels of life-satisfaction than any other section of Israeli society.

Hence virtual realities are likely to be key to providing meaning to the useless class of the post-work world. Maybe these virtual realities will be generated inside computers. Maybe they will be generated outside computers, in the shape of new religions and ideologies. Maybe it will be a combination of the two. The possibilities are endless

In any case, the end of work will not necessarily mean the end of meaning, because meaning is generated by imagining rather than by working.

People in 2050 will probably be able to play deeper games and to construct more complex virtual worlds than in any previous time in history.

But what about truth? What about reality? Do we really want to live in a world in which billions of people are immersed in fantasies, pursuing make-believe goals and obeying imaginary laws? Well, like it or not, that’s the world we have been living in for thousands of years already.

agents will open up many more learning opportunities.

Already, AI can help you pick out a new TV and recommend movies, books, shows, and podcasts. Likewise, a company I’ve invested in, recently launched Pix, which lets you ask questions (“Which Robert Redford movies would I like and where can I watch them?”) and then makes recommendations based on what you’ve liked in the past

Productivity

copilots can do a lot—such as turn a written document into a slide deck, answer questions about a spreadsheet using natural language, and summarize email threads while representing each person’s point of view.

before the sophisticated agents I’m describing become a reality, we need to confront a number of questions about the technology and how we’ll use it.

Helping patients and healthcare workers will be especially beneficial for people in poor countries, where many never get to see a doctor at all.

To create a new app or service, you won’t need to know how to write code or do graphic design. You’ll just tell your agent what you want. It will be able to write the code, design the look and feel of the app, create a logo, and publish the app to an online store

Agents will do even more. Having one will be like having a person dedicated to helping you with various tasks and doing them independently if you want. If you have an idea for a business, an agent will help you write up a business plan, create a presentation for it, and even generate images of what your product might look like

For decades, I’ve been excited about all the ways that software would make teachers’ jobs easier and help students learn. It won’t replace teachers, but it will supplement their work—personalizing the work for students and liberating teachers from paperwork and other tasks so they can spend more time on the most important parts of the job.

Mental health care is another example of a service that agents will make available to virtually everyone. Today, weekly therapy sessions seem like a luxury. But there is a lot of unmet need, and many people who could benefit from therapy don’t have access to it.

I don’t think any single company will dominate the agents business--there will be many different AI engines available.

The real shift will come when agents can help patients do basic triage, get advice about how to deal with health problems, and decide whether they need to seek treatment.

They’ll replace word processors, spreadsheets, and other productivity apps.

Education

For example, few families can pay for a tutor who works one-on-one with a student to supplement their classroom work. If agents can capture what makes a tutor effective, they’ll unlock this supplemental instruction for everyone who wants it. If a tutoring agent knows that a kid likes Minecraft and Taylor Swift, it will use Minecraft to teach them about calculating the volume and area of shapes, and Taylor’s lyrics to teach them about storytelling and rhyme schemes. The experience will be far richer—with graphics and sound, for example—and more personalized than today’s text-based tutors.

your agent will be able to help you in the same way that personal assistants support executives today. If your friend just had surgery, your agent will offer to send flowers and be able to order them for you. If you tell it you’d like to catch up with your old college roommate, it will work with their agent to find a time to get together, and just before you arrive, it will remind you that their oldest child just started college at the local university.

To see the dramatic change that agents will bring, let’s compare them to the AI tools available today. Most of these are bots. They’re limited to one app and generally only step in when you write a particular word or ask for help. Because they don’t remember how you use them from one time to the next, they don’t get better or learn any of your preferences.

The current state of the art is Khanmigo, a text-based bot created by Khan Academy. It can tutor students in math, science, and the humanities—for example, it can explain the quadratic formula and create math problems to practice on. It can also help teachers do things like write lesson plans.

Businesses that are separate today—search advertising, social networking with advertising, shopping, productivity software—will become one business.

other issues won’t be decided by companies and governments. For example, agents could affect how we interact with friends and family. Today, you can show someone that you care about them by remembering details about their life—say, their birthday. But when they know your agent likely reminded you about it and took care of sending flowers, will it be as meaningful for them?

In the computing industry, we talk about platforms—the technologies that apps and services are built on. Android, iOS, and Windows are all platforms. Agents will be the next platform.