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Overcoming Bias Commenter's avatar

with the advent of computer and technology and its integration into other areas (medical, financial sectors) 'smart people' are more competitive for occupations that pay economic rents.

doctorswall street quants, tradersintellectual property lawyerupper level corporate managerowner of medium of information exchange or market

whereas in the past economic rent was more correlated with ownership

landlordoil well ownerfactory owner

and so 'smart people' had less of an advantage when it came to economic rent.

does your answer depend on this?

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Michael Bishop's avatar

Just because something is hard to measure doesn't mean that we shouldn't try. We should try, while also trying to understand all the ways in which are measurement is imperfect so that we know exactly how much confidence to have.

If we estimate that, on average, each new person makes the world better, then I might choose to have more children. Or I might encourage others to have more, or support government policies which increase population growth. Of course, these aren't the only things to consider.

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