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Plinz's profile
Joscha Bach
Joscha Bach
Joscha Bach
@Plinz

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Joscha Bach

@Plinz

FOLLOWS YOU. Artificial Intelligence, Cognitive Architectures, Computation. The goal is integrity, not conformity.

San Francisco, CA
bach.ai
Joined April 2009

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    1. Aella‏Verified account @Aella_Girl Mar 23
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      One thing me and socialists have in common, I presume, is that government bailouts for corporations seems like a really terrible idea.

      31 replies 9 retweets 221 likes
    2. Marie‏ @mesolude Mar 23
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      Replying to @Aella_Girl

      I started reading Principles for Managing Big Debt Crises, and it makes a strong case that despite the moral hazard of supporting failing institutions that made bad calls, it's super important for mitigating financial collapse across the board

      1 reply 0 retweets 10 likes
    3. Marie‏ @mesolude Mar 23
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      Replying to @mesolude @Aella_Girl

      I like this analogypic.twitter.com/Lh5M2XsJ8a

      1 reply 0 retweets 3 likes
    4. Aella‏Verified account @Aella_Girl Mar 23
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      Replying to @mesolude

      I'm unconvinced about the tradeoff though, taking away the ability to fail seems like it would change the incentives inside the company in a bad way

      1 reply 0 retweets 2 likes
    5. Marie‏ @mesolude Mar 23
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      Replying to @Aella_Girl

      Yeah, if an institution couldn't fail in any circumstance it does seem like they'd do riskier things If bailouts are conditional on some sort of greater crisis, does that still seem not worth it?

      1 reply 0 retweets 1 like
    6. Aella‏Verified account @Aella_Girl Mar 23
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      Replying to @mesolude

      I think so? I guess it depends on how much corporations would operate differently if they knew for a fact they would just disintegrate if something really bad happened. I don't know a ton but I assume they'd build more robust backup plans.

      2 replies 0 retweets 2 likes
    7. Marie‏ @mesolude Mar 23
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      Replying to @Aella_Girl

      If it turned out that bailouts were the thing that helped reverse a severe economic downturn, I think I'd take the bad incentives it puts on institutions

      2 replies 0 retweets 2 likes
    8. Joscha Bach‏ @Plinz Mar 23
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      Replying to @mesolude @Aella_Girl

      Bailouts should probably be restricted to individuals (like families that temporarily cannot pay rent) and essential businesses that are expensive to rebuild from the ground up (eg airlines)?

      1 reply 0 retweets 0 likes
    9. Marie‏ @mesolude Mar 23
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      Replying to @Plinz @Aella_Girl

      There's a question of what is effective vs what doesn't cause bad incentives vs what feels morally good I'm primarily concerned about effectiveness

      1 reply 0 retweets 1 like
      Joscha Bach‏ @Plinz Mar 23
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      Replying to @mesolude @Aella_Girl

      Closely related on how to create accountability for that assessment (bad incentives). And ethical behavior is going to be the one that gives the best outcomes in the long run.

      12:53 PM - 23 Mar 2020
      1 reply 0 retweets 0 likes
        1. New conversation
        2. Marie‏ @mesolude Mar 23
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          Replying to @Plinz @Aella_Girl

          Generally yes. Many of the ethical intuitions people have overly personify governments and companies

          1 reply 0 retweets 0 likes
        3. Joscha Bach‏ @Plinz Mar 23
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          Replying to @mesolude @Aella_Girl

          Agree that the intuitions of many people about the most rational macroeconomic strategies are systematically wrong

          0 replies 0 retweets 1 like
        4. End of conversation

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