
Contents
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Introduction Introduction
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Economics and Ethics: Two Conflicting Value Systems? Economics and Ethics: Two Conflicting Value Systems?
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An Introductory Example: Job Losses from Automation and AI An Introductory Example: Job Losses from Automation and AI
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Why Economic Value All Too Often Prevails over Ethical Values Why Economic Value All Too Often Prevails over Ethical Values
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Progress in AI and Inequality Progress in AI and Inequality
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From the Industrial Revolution to the Future From the Industrial Revolution to the Future
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Technological Progress and Redistribution Technological Progress and Redistribution
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Redistribution and Utilitarianism Redistribution and Utilitarianism
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Inequality and Steering Progress in AI Inequality and Steering Progress in AI
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Progress in AI Creating Novel Externalities Progress in AI Creating Novel Externalities
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AI Discrimination, Biases, and Fairness AI Discrimination, Biases, and Fairness
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Hacking the Human Brain Hacking the Human Brain
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Curtailing Human Autonomy Curtailing Human Autonomy
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Externalities and Steering Progress in AI Externalities and Steering Progress in AI
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The Race toward Superintelligence The Race toward Superintelligence
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Superintelligence, Inequality, and the Economic Viability of Humans Superintelligence, Inequality, and the Economic Viability of Humans
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Superintelligence, Externalities, and Existential Risk Superintelligence, Externalities, and Existential Risk
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Superintelligence and Steering Progress in AI Superintelligence and Steering Progress in AI
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Bibliography Bibliography
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26 Fairness Criteria through the Lens of Directed Acyclic Graphs: A Statistical Modeling Perspective
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25 Integrating Ethical Values and Economic Value to Steer Progress in Artificial Intelligence
Get accessAnton Korinek, Department of Economics and Darden School of Business, University of Virginia
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Published:09 July 2020
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Abstract
This chapter studies how to balance the economic value created by artificial intelligence (AI) and ethical values. Economics and ethics both offer important perspectives on human society, but they do so from two different viewpoints: the central focus of economics is how the price system in the economy values resources; the central focus of ethics is the moral evaluation of actions in the society. The rise of AI forces humanity to confront new areas in which ethical values and economic value conflict, raising the question of what direction of technological progress is ultimately desirable for society. One crucial area is the effects of AI and related forms of automation on labor markets, which may lead to substantial increases in inequality unless mitigating policy actions are taken or progress is actively steered in a direction that complements human labor. Additional areas of conflict arise when AI systems optimize narrow market value but disregard broader ethical values and thus impose externalities on society, for example, when AI systems engage in bias and discrimination, hack the human brain, and increasingly reduce human autonomy.
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