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AI compared to the great railroad boom
Original: AI vs. the railroads
Economist Noah Smith draws a parallel between today's artificial intelligence investment wave and the nineteenth-century railroad boom, when massive capital spending on railways transformed economies even as many investors lost money. The comparison fuels ongoing debate over whether AI spending is a speculative bubble, a transformative infrastructure shift, or both at once.
Why now: Investors and commentators are weighing whether the AI buildout will repeat the railroad pattern of overinvestment followed by bust alongside lasting economic change.
Noah SmithNoahpinionartificial intelligence
Evidence
- AI vs. the railroads · Noahpinion
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