Tyler Cowen answers two question asked to him by Noah Stoffman, and in the process predicts the future:
I believe with p = 0.6 that the world is in for a “great disruption.” It has come to MSM first but it will not end there. In the longer run I am optimistic about the results of this change — computers will free up lots of human labor — but in the meantime it will have drastic implications for income redistribution, across both individuals and across economic sectors. For a core metaphor, the internet displacing paid journalism and classified ads is a good place to start. The value of newspapers has been sucked into Google. [link]
And gives us some sound investment advice:
Suppose you were given a large amount of money (say $10 million) and you wanted to make sure that you would remain (relatively) wealthy in as many future states of the world as possible. Where would you invest it? Remote arable land? Organizing a cult of followers?
If you have $10 million, the safest thing to do is to diversify across currencies, buy government securities of various kinds, hold $1.5 million in gold, and otherwise not invest at all. Oh yes, invest in some cheap hobbies. In a real crunch remote land is worthless — transport costs — and your cult followers are as likely to betray you as not. Trying to become a professor is no longer such a safe path. [link]