Is the free market social Darwinism for companies?
Companies compete to survive. Companies behave as rational agents within the confines of regulated markets. For the most part free market as a concept is a myth. Markets are heavily regulated as anyone who starts a legitimate business finds out. The exception is the black market which is the closest thing to a free market that can exist.
Does social Darwinism exist for companies? What about for AI? Should AI compete in a life or death battle to evolve best to satisfy us?
And like survival of the fittest theory in nature, it is not which companies are best or strongest. Merely which ones are able to continue and live on. In nature this is done through reproduction in companies its through longevity and mergers.
Many charities have now evolved to follow this pattern of merely existing to survive.... they are considered a success if they raise larger amounts of money each year and find ways of spending that money. The actual beneficial results aren't overly important anymore.
Like peacocks and the disadvantageous trait they are sexually selected for (their tails) many organisations may find their decisions based on short term gains will have a hugely negative affect for their long term survival.... but thats my 2 pennies worth :)
Just came across your post on Steemfollower And got caught by your question.
I think people should change the point of view, for a better outcome. Its not important if a company survive, but ist important that people can live in freedom.
AI might work somehow, but should people be dependent from AI where only few know the alghorithms but nowbody the result. I'm curios and worried ....
I think when it comes to innovating technologies there's no problem with having artificial intelligence involved in that. I am by all means a believer in capitalism, but capitalism should in the end improve everyone's lives and reward those who put the most effort into that. I see no problem with artificial intelligence increasing the stakes even if they the tech could unlevel the playing field.
However for certain services based on man-made constructions of rules that are not particularly innovative such as legal services I think that there should be a decentralized economy, no companies, everyone is a separate company. I spent hours constructing the concept and released it on my blog. But you know what - artificial intelligence might just be the solution to improve on my very rough, unpolished idea. Something for me to think through!
I agree with what you said. I see AI as being able to help me contribute more than I could if not able to improve myself using AI. It's an amplifier.
For the most part the "free market" is defined badly. Some people think that "free market" is a synonym for "anarchy" and implies that there is a total lack of government regulation. But that is not so, in anarchy you can't have a free market because neither buyers nor sellers could enforce contracts. A free market requires functioning government. You can't do business in an efficient manner if you can't enforce contracts. The flipside is that many regulations can cause market failures. If government regulations create barriers to entry and many are designed to do just that, then that reduces competition and can lead to market failures like monopoly.
Nice
Maybe that exist. Social darwinism theory also motivates the company to work very hard in order to prove that they are not inferior🙂. Social darwinism promotes the access of financial resources by those companies who are able to utilize the resources appropriately. Individuals or poor performing companies are considered to the “inferior” hence the well performing entities receive favors while they don’t.🙂
I think Artificial Intelligence should battle in life to best satisfy us🙂. Everything we love about civilization is a product of intelligence, so amplifying our human intelligence with artificial intelligence has the potential of helping civilization flourish like never before – as long as we manage to keep the technology beneficial.
although it can be free but the black market remains illegal
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I guess Free Market should decide the evolution of AI. I think it is counter productive in a lot cases for markets to be regulated.
I'm not sure if it does right now, but it should. I like to think I am a free-market proponent, but then without any anti-trust restrictions there can be monopolistic and anti-competitive strategies taken by companies that actually kill competition rather than foster it. So, its a two-edged sword. We just need a tiny amount of regulations to ensure a level playing field and new-comers are allowed to innovate and compete without being swallowed.
Without regulation the free market does not necessarily produce happiness. There is a place for regulation to make sure things stay utilitarian. It is possible for instance to set up for profit entities which destroy people's lives and profit from chaos yet this would be spreading suffering, misery, unhappiness, and go against utilitarian ideals.