Autonomous CarsAs I may have mentioned in a previous blog, Teslas are now able to drive themselves on the highway. In just a few short years, the technology has evolved from cars merely having a rearview camera to cars that alert you if there is someone in your blind spot to cars that can drive themselves on the highway. In California, there is fleet of self-driven Google cars driving around the roads every day. Like any new technology, how exactly this will change the world is still speculative, but the changes are likely transformational. This article, while aggressive, shares some potential economic impacts that autonomous vehicles may have: How Uber’s Autonomous Cars Will Destroy 10 Million Jobs and Reshape the Economy by 2025
An interesting moral dilemma for self-driving cars is whether to design them save the occupants or the lives of others in a life-threatening situation. For example, let’s say a group of six people unexpectedly crosses the street and the car has the choice of avoiding them at the cost of the occupants’ lives or hitting them, thereby killing some pedestrians but saving the occupants’ lives. Which way should these cars be programmed? It would definitely be weird to know you are in a vehicle that will sacrifice your life to save a greater number of other lives.
Flattening Yield Curve
Over the past two years, short-term interest rates have been rising steadily while longer-term rates have generally been falling. This of course means that the yield curve is flattening. So what does a flattening yield curve mean? Theoretically, it can mean any one or a combination of the following: