Can Al Help Economics Realize Its Dream of Science?—On the Impact of AI on Economics
Since the first half of the 19th century,economics,especially mainstream economics in the West,has been striving to become an economic science like a natural science,but it is still unsatisfactory to this day.The advent of AI,especially AGI,seems to have reignited the dream of economists trying to build economic science with AI.Science needs to meet at least three necessary conditions:measurable(quantifiable),repeatable,and falsifiable.However,economics meets none of the three re-quirements of science.Although AGI technology is advanced,its ability is limited,and cannot help economics meet the three necessary conditions of science,so it cannot help economics to realize the dream of science.Nonetheless,AGI can improve eco-nomics in at least eight ways:to integrate microeconomics and macroeconomics,to break the boundary between qualitative anal-ysis and quantitative analysis,to improve economic forecasting ability,to improve economic interpretation ability,to reduce the prisoner's dilemma in the economic game and achieve Pareto improvement,to optimize the matching of public goods and private goods,to promote the dynamic balance between supply and demand,and to improve the ability of limited rationality and exclude irrational behavior.However,the ability of AGI to improve economics is limited due to the limitation of objective factors of the recipient.
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