Assume those loops have maximum force and the economy becomes “information produced by information capital, which is produced by information, which in turn is producing information ever faster every year”, as William Nordhaus, a Nobel laureate in economics, wrote in a paper in 2021. This brings about the “singularity”—a point when output becomes infinite. The singularity is really a counterargument: proof that the model must, eventually, be proved wrong. But even the first step on the journey, a big acceleration in growth, would be a profound event.
Assume those loops have maximum force and the economy becomes “information produced by information capital, which is produced by information, which in turn is producing information ever faster every year”, as William Nordhaus, a Nobel laureate in economics, wrote in a paper in 2021. This brings about the “singularity”—a point when output becomes infinite. The singularity is really a counterargument: proof that the model must, eventually, be proved wrong. But even the first step on the journey, a big acceleration in growth, would be a profound event.