Evidence receipt / belief
Published · transcript-backedTyler Cowen: belief
31 Jan 2024 Dwarkesh Podcast Tyler Cowen — Hayek, Keynes, & Smith on AI, animal spirits, anarchy, & growth
“I think overconfidence helps us on that front. So there’s, quote-unquote, too much trading from a private point of view.”
Source trail
Everything needed to verify it.
- Speaker
- Tyler Cowen
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 31 Jan 2024
- Publisher
- Dwarkesh Podcast
Transcript context
…Maybe this is another example of the innovators being unable to internalize their gains. As active investors who are providing this information to the market, they don’t make out that much better than the passive investors, but they’re actually providing a valuable service. But the benefits are diffused throughout society. I think overconfidence helps us on that front. So there’s, quote-unquote, too much trading from a private point of view. But from a social point of view, maybe you can only have too much trading or too little trading, and you might rather have too much trading. Explain that. Why can it only be too much or too little?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.