This guy never had enough, is that really you?The underpinning tenet of chasing exponential growth is that anything less than “all of it” is never enough. If there’s more possible, more out there, …
Exocapitalism: economies with absolutely no limits
There is a touch of destiny with this one. We have real…
Misperception of Exponential Growth: Are People Aware of Their Errors?
Previous research shows that individuals make systematic errors when judging exponential growth, which has harmful effects for their financial well-being. This study analyzes how far individuals are aware of their errors and how these errors are shaped by arithmetic and conceptual problems. Whereas arithmetic problems could be overcome using computational assistance like a pocket calculator, this is not the case for conceptual problems, a term we use to subsume other error drivers like a general misunderstanding of exponential growth or overwhelming task complexity. In an incentivized experiment, we find that participants strongly overestimate the accuracy of their intuitive judgment. At the same time, their willingness to pay for arithmetic assistance is too high on average, often much above the actual benefits a calculator provides. Using a multitier system of task complexity we can show that the willingness to pay for arithmetic assistance is hardly related to its benefits, indicating that participants do not really understand how the interplay of arithmetic and conceptual problems shape their errors in exponential growth tasks. Our findings are relevant for policymaking and financial advisory practice and can help to design effective approaches to mitigate the detrimental effects of misperceived exponential growth.
Capacities
Capacities turns your ideas into connected objects. Think naturally, find everything instantly.
Exponential Economist Meets Finite Physicist | Do the Math
[An updated treatment of some of this material appears in Chapter 2 of the Energy and Human Ambitions on a Finite Planet (free) textbook, also mirrors a 2022 article in Nature Physics..]
Why the super rich are inevitable
Why some mathematicians argue the economy is designed to create a few super rich people – unless we stop it.
Infinity Revenue, Infinity Possibilities
The Deceptively Cute Game Growing Faster Than Any Company in History
The Fallacy of Endless Economic Growth
What economists around the world get wrong about the future.
Capitalism and the Death Drive
What we call growth today is in fact a tumorous growth,…
Infinite Researchers | AI-Powered Scientific Discovery
What happens to the speed of discovery if we have infinite researchers? Explore AI experiments accelerating breakthroughs.
Exponential Growth Bias and Household Finance
ABSTRACT Exponential growth bias is the pervasive tendency to linearize exponential functions when assessing them intuitively. We show that exponential growth bias can explain two stylized facts in household finance: the tendency to underestimate an interest rate given other loan terms, and the tendency to underestimate a future value given other investment terms. Bias matters empirically: More‐biased households borrow more, save less, favor shorter maturities, and use and benefit more from financial advice, conditional on a rich set of household characteristics. There is little evidence that our measure of exponential growth bias merely proxies for broader financial sophistication.
Post-growth
Post-growth is an umbrella term that refers to a broad family of economic, ecological, and political perspectives responding to the limits-to-growth dilemma —the recognition that infinite economic growth is biophysically unsustainable on a finite planet. Central to post-growth thinking is the shift of the focus out of GDP growth as the main goal of the economy. Instead, well-being becomes the main objective. Post-growth puts emphasis on decoupling societal well-being from economic growth, advocating for the possibility of prosperity beyond growth.
If You Want to Raise Birthrates, You Need to Fix Men
New evidence that patriarchy plus economic growth leads to declining birthrates
Exclusive | Mind-Blowing Growth Is About to Propel Anthropic Into Its First Profitable Quarter
The startup expects a 130% revenue surge to $10.9 billion in the June quarter and its first operating profit, defying skeptics of the AI boom.
Post-Growth - P2P Foundation
"The term postgrowth defines a range of approaches to socioecological challenges. They address these challenges in ways that are diametrically opposed to green-growth, which expresses the belief that society can simultaneously expand economic activity and reduce emissions and the demand for materials. Postgrowth approaches, by contrast, argue that the unlimited expansion of production and consumption is impossible and undesirable on a finite planet.
