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[Music]

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do you want to

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it's a little early but

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guys well I found someone

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to give a talk that

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if you ever

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out

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what does my economy

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asking some

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well you came to the right place

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part of her PhD thesis work

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tony is going to answer

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give a warm round of applause

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some part of my thesis today

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now this is ongoing work so

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grateful for any kind of feedback that

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you guys would have

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presenting this as kind of a first try

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because when i looked at the topic of

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mean for an economy

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anything academic and

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surprised

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question to me because

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mostly at

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read a lot of newspaper articles and

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difficult and

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holding itself back by having this big

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what but no one really looked into how

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it is holding itself back or if it is

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even holding itself back

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really

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don't even have an agreement among

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economists or business studies people

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about what impact the

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the economy

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what does internet censorship due to an

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economy

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ask what does the

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economy and we don't even know that

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was quite surprising to me and

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a little bit later on but

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was thinking

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question to ask

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internet censorship

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welfare

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so some of you might think of welfare

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state gives to its

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as the consumer and producer surplus

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basically the difference between what

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something costs and what you can sell it

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for

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difference between what you would be

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willing to pay and what you're actually

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paying is your consumer surplus

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let's assume

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I have a laptop and

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would have been willing to pay

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think it's a very good product

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actually got it for like 800 or 900

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consumer surplus is something like

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600-700 euros and if we add up

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everyone's individual consumer surplus

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first

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does the

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and

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good agreement on that

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measure that

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the

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wasn't very clear in the research that

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retail and possibly some other

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possibly but not necessarily

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advertisement revenue is reflected in

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this

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big consulting agency that basically

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very diligent about their methods

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basically

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that the UK has a pretty big part of

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probably mostly because of online retail

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which is bigger in the UK

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that there is a small difference between

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developed and developing market averages

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but this seems like a very

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all I don't know the

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really say whether this is actually good

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measure

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because a lot of the stuff that the

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at all

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one example is free online courses

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of

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the web

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them are not add enabled

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them don't really have advertisements

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the general sense so classical economics

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basically says well they don't

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create

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taken one of these online courses and

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maybe you've been lucky and took a good

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some of the courses I took

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some value for me

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so one of the ways to look at this is

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actually to think about time as

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something that has

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so if

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online course

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example earning money

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spending it doing something literally

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that is fun for me and these guys

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how to pronounce it exactly

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he sounds Swedish possibly and

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they tried to get an idea of how much

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consumer surplus these online courses

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actually create

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reflected in the

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some models

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if we take

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model which is 4.1 a billion dollars on

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average for the

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of economic welfare that somehow being

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created that is not reflected in

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actually pay money for another example

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that we might think of

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wikipedia has a certain

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operating obviously the servers and

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stuff but because most people

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contributing to

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volunteers

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not really reflect the true value

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you don't want to say

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don't agree that money had

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opportunity

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what about the money that you don't

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spend on enpsychopedia 'he's

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you guys have

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how many of you guys have recent

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that's a little less

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more

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my family also we also have an

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or something

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an encyclopedia

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and buy a new encyclopedia

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knowledge changed obviously

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since probably

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bother

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like a physical book might cost a

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hundred euros

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have had an encyclopedia at one point

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at this point

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encyclopedia every year

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buy it every

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so in order to simplify this we can say

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every year

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times

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million euros of economic welfare of

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something that people were willing to

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spend money for that they're not

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spending money for

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naturally useful for us anymore because

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the knowledge that we have the knowledge

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that they would have would be outdated

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very very soon and

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more

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business side

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there's a lot of research on whether the

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internet actually increases productivity

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for businesses or not

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well I don't really want to go into that

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debate because

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on

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did this wrong and

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your argument makes sense so it's very

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you

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really like

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one

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a lot of businesses to rely on the

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now we can see on this graph

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about

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the email to communicate now

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obviously only works if you have

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internet

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access to internet in order for their

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current business model to work

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was just some short ideas on sort of

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what can

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economy and now

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about it and

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in what kind of effect this has

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sort of the obvious people don't have

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access to

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the controller suppression of what can

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be accessed published

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internet and acted by regulators or on

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their own initiative

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conceptualize

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personally

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important one is how

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internet censorship

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could in theory basically have internet

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censorship

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have censorship that isn't targeted at

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all

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close the internet down basically for a

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day

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obviously the other one thing to look at

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is how widespread is it

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business or if

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probable is it that you would

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something

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that you would try to access something

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that sensor

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even

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censorship and the way

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conceptualize it is to be kind of on a

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continuum

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well either

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their censorship or there isn't

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censorship

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censorship cat has a big spectrum of

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things that can

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happen

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sort of implications

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I don't want to go through them in

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detail

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really interesting talks on

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censorship already

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interesting or important for the model

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that I'm trying to build but before

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trying to build my model first some more

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motivation

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look at

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it would have an economic impact and

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there actually is a study that's

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conducted by a sort of lobbying

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organization so obviously should be

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of salt

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it shows that there seems to be a

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correlation between freedom and how good

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the economic economic impact of

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is this is just a simple correlation you

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can see that

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going through it

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controlling for

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development level but it still seems

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quite rudimentary to be honest

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that they use is quite bad because it is

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very very

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enough

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someone says someone

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you think the economic

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country

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they use to some degree

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very

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final answer

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own model and in my model

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government that chooses the type of

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censorship

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censorship that

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very expensive

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00:14:05,720 --> 00:14:10,610


321
00:14:07,790 --> 00:14:12,110
calculate our actual manpower and

322
00:14:10,610 --> 00:14:14,540


323
00:14:12,110 --> 00:14:17,130


324
00:14:14,540 --> 00:14:20,490
this point there

325
00:14:17,130 --> 00:14:24,030
is there are firms and

326
00:14:20,490 --> 00:14:25,950


327
00:14:24,030 --> 00:14:28,380
but instead is a number that can

328
00:14:25,950 --> 00:14:34,350
fluctuate depending on the kind of

329
00:14:28,380 --> 00:14:36,840
country

330
00:14:34,350 --> 00:14:39,930
industries that

331
00:14:36,840 --> 00:14:41,640
by their information intensity or what i

332
00:14:39,930 --> 00:14:43,980
like to call information intensity

333
00:14:41,640 --> 00:14:46,230


334
00:14:43,980 --> 00:14:48,660
commodity and what

335
00:14:46,230 --> 00:14:51,240
or what

336
00:14:48,660 --> 00:14:53,640
kinds of industry is how important is

337
00:14:51,240 --> 00:14:55,380
information as a commodity as opposed to

338
00:14:53,640 --> 00:14:58,020
other kinds of commodities that are in

339
00:14:55,380 --> 00:15:00,180
that are important for this industry

340
00:14:58,020 --> 00:15:02,490
let's

341
00:15:00,180 --> 00:15:04,380
equals

342
00:15:02,490 --> 00:15:06,720
information is a commodity really isn't

343
00:15:04,380 --> 00:15:09,570
important especially

344
00:15:06,720 --> 00:15:11,580
information transmitted information we

345
00:15:09,570 --> 00:15:13,950
can think of traditional agriculture

346
00:15:11,580 --> 00:15:15,840


347
00:15:13,950 --> 00:15:18,690


348
00:15:15,840 --> 00:15:20,700
technology involved

349
00:15:18,690 --> 00:15:24,180
very traditional agriculture that we

350
00:15:20,700 --> 00:15:27,210
still might see happening in some parts

351
00:15:24,180 --> 00:15:29,640
of

352
00:15:27,210 --> 00:15:31,410
little information transmission involved

353
00:15:29,640 --> 00:15:33,480


354
00:15:31,410 --> 00:15:36,300
that is involved is actually mostly

355
00:15:33,480 --> 00:15:38,430
through

356
00:15:36,300 --> 00:15:40,740
case of

357
00:15:38,430 --> 00:15:42,540
close to zero and then if we look at

358
00:15:40,740 --> 00:15:44,760
information intensity of one

359
00:15:42,540 --> 00:15:46,560


360
00:15:44,760 --> 00:15:48,630
information is the most important

361
00:15:46,560 --> 00:15:51,810
commodity

362
00:15:48,630 --> 00:15:52,440
would

363
00:15:51,810 --> 00:15:55,410
sorry

364
00:15:52,440 --> 00:15:58,170
like let's look at

365
00:15:55,410 --> 00:15:59,910
kinds of businesses like this

366
00:15:58,170 --> 00:16:01,890
between we have sort of industrial

367
00:15:59,910 --> 00:16:04,260
companies in the modern world

368
00:16:01,890 --> 00:16:06,960
closer to the

369
00:16:04,260 --> 00:16:10,710
might be

370
00:16:06,960 --> 00:16:13,800


371
00:16:10,710 --> 00:16:16,050
traditional garment factories

372
00:16:13,800 --> 00:16:19,020
have information needs they get

373
00:16:16,050 --> 00:16:21,939


374
00:16:19,020 --> 00:16:23,709
or from my email

375
00:16:21,939 --> 00:16:26,259


376
00:16:23,709 --> 00:16:29,349
weeks or months

377
00:16:26,259 --> 00:16:33,429
information requirement on the other

378
00:16:29,349 --> 00:16:37,209
side closer

379
00:16:33,429 --> 00:16:40,209


380
00:16:37,209 --> 00:16:41,470


381
00:16:40,209 --> 00:16:44,049
and being able to transmit this

382
00:16:41,470 --> 00:16:45,789
information is very important

383
00:16:44,049 --> 00:16:50,109
between we might look at traditional

384
00:16:45,789 --> 00:16:52,209
industrial companies like automobile

385
00:16:50,109 --> 00:16:55,299
manufacturing that might be somewhere in

386
00:16:52,209 --> 00:16:58,720
between

387
00:16:55,299 --> 00:17:00,279


388
00:16:58,720 --> 00:17:02,859


389
00:17:00,279 --> 00:17:05,409
randomly distributed the information

390
00:17:02,859 --> 00:17:07,869
intensity of industries is also kind of

391
00:17:05,409 --> 00:17:10,779
randomly distributed

392
00:17:07,869 --> 00:17:13,029
random fashion

393
00:17:10,779 --> 00:17:14,319
the

394
00:17:13,029 --> 00:17:16,569
economies

395
00:17:14,319 --> 00:17:19,059
most of them the information intensity

396
00:17:16,569 --> 00:17:20,679
of one industry is kind of correlated

397
00:17:19,059 --> 00:17:22,869
with information intensities of other

398
00:17:20,679 --> 00:17:25,659
industries in this country like in

399
00:17:22,869 --> 00:17:27,638


400
00:17:25,659 --> 00:17:30,549
certain type of

401
00:17:27,638 --> 00:17:34,210
quite a lot of which is manufacturing

402
00:17:30,549 --> 00:17:37,360


403
00:17:34,210 --> 00:17:39,549
have more industries in this area but we

404
00:17:37,360 --> 00:17:41,529
have less traditional agriculture for

405
00:17:39,549 --> 00:17:43,809
example

406
00:17:41,529 --> 00:17:45,730
distribution wouldn't work

407
00:17:43,809 --> 00:17:48,429
the service level and the

408
00:17:45,730 --> 00:17:49,990
level are randomly distributed as kind

409
00:17:48,429 --> 00:17:51,669
of external variables

410
00:17:49,990 --> 00:17:54,490
obviously this is a simplification

411
00:17:51,669 --> 00:17:56,559
because

412
00:17:54,490 --> 00:17:57,399
beginning like

413
00:17:56,559 --> 00:17:59,590
start

414
00:17:57,399 --> 00:18:02,919
I don't know

415
00:17:59,590 --> 00:18:04,389


416
00:18:02,919 --> 00:18:06,940


417
00:18:04,389 --> 00:18:09,100


418
00:18:06,940 --> 00:18:10,450
order to get a better idea of what

419
00:18:09,100 --> 00:18:12,879
happens with different types of

420
00:18:10,450 --> 00:18:15,100
economies

421
00:18:12,879 --> 00:18:18,309
this game

422
00:18:15,100 --> 00:18:21,250
and having these random parameters

423
00:18:18,309 --> 00:18:23,590


424
00:18:21,250 --> 00:18:29,980
average there should be

425
00:18:23,590 --> 00:18:34,179


426
00:18:29,980 --> 00:18:34,880
is actually missing is the consumer as a

427
00:18:34,179 --> 00:18:37,400


428
00:18:34,880 --> 00:18:39,710


429
00:18:37,400 --> 00:18:42,290
in here

430
00:18:39,710 --> 00:18:44,330
that reflected

431
00:18:42,290 --> 00:18:50,540
interesting aspect of my

432
00:18:44,330 --> 00:18:54,650
presenting this

433
00:18:50,540 --> 00:18:57,440
look at what this would mean for firms

434
00:18:54,650 --> 00:18:59,390
in my model what kind of things would I

435
00:18:57,440 --> 00:19:00,950
expect

436
00:18:59,390 --> 00:19:02,720
which is always the first step when

437
00:19:00,950 --> 00:19:05,330
trying to model something

438
00:19:02,720 --> 00:19:08,180
first of all

439
00:19:05,330 --> 00:19:10,790
intensity of something greater than

440
00:19:08,180 --> 00:19:13,310
but smaller than

441
00:19:10,790 --> 00:19:14,690
information intensity being close to one

442
00:19:13,310 --> 00:19:17,000
is kind of a special case

443
00:19:14,690 --> 00:19:18,620


444
00:19:17,000 --> 00:19:20,900
censorship increases the

445
00:19:18,620 --> 00:19:22,430
uncertainty of information and of course

446
00:19:20,900 --> 00:19:25,730
that is more important

447
00:19:22,430 --> 00:19:29,420
the more important information is for

448
00:19:25,730 --> 00:19:32,120


449
00:19:29,420 --> 00:19:34,010
for a traditional garment factory

450
00:19:32,120 --> 00:19:38,120


451
00:19:34,010 --> 00:19:40,490
important than for a

452
00:19:38,120 --> 00:19:42,830
semiconductor

453
00:19:40,490 --> 00:19:46,160
receive new

454
00:19:42,830 --> 00:19:48,290
every month or something that's the

455
00:19:46,160 --> 00:19:50,750
second thing is the more globalized the

456
00:19:48,290 --> 00:19:53,930
economy as a whole is the more costly

457
00:19:50,750 --> 00:19:59,630


458
00:19:53,930 --> 00:20:02,720


459
00:19:59,630 --> 00:20:04,190
firms is

460
00:20:02,720 --> 00:20:06,320
the higher the cost

461
00:20:04,190 --> 00:20:09,050
now this assumes that the censorship or

462
00:20:06,320 --> 00:20:12,110
the goal of censorship usually isn't

463
00:20:09,050 --> 00:20:15,980


464
00:20:12,110 --> 00:20:19,190
firms don't succeed

465
00:20:15,980 --> 00:20:22,010
very focused

466
00:20:19,190 --> 00:20:23,450
less which makes their

467
00:20:22,010 --> 00:20:25,490
associated

468
00:20:23,450 --> 00:20:27,290
now of course

469
00:20:25,490 --> 00:20:29,390
circumvent censorship and they can do

470
00:20:27,290 --> 00:20:32,390
that for sure

471
00:20:29,390 --> 00:20:35,360
that

472
00:20:32,390 --> 00:20:37,790


473
00:20:35,360 --> 00:20:40,430
expensive

474
00:20:37,790 --> 00:20:41,810
make sure that the VPN works expensive

475
00:20:40,430 --> 00:20:43,460


476
00:20:41,810 --> 00:20:45,260
change it because the

477
00:20:43,460 --> 00:20:47,690
decides

478
00:20:45,260 --> 00:20:50,420
shouldn't work anymore so it's

479
00:20:47,690 --> 00:20:56,810


480
00:20:50,420 --> 00:20:58,640


481
00:20:56,810 --> 00:21:01,940
intensity

482
00:20:58,640 --> 00:21:03,710
increases the

483
00:21:01,940 --> 00:21:05,360


484
00:21:03,710 --> 00:21:06,260
censorship for

485
00:21:05,360 --> 00:21:09,230
that happening

486
00:21:06,260 --> 00:21:11,150
more recently

487
00:21:09,230 --> 00:21:13,190
be some firms that have a relative

488
00:21:11,150 --> 00:21:15,650
advantage especially domestic firms

489
00:21:13,190 --> 00:21:17,420
often have a relative advantage due to

490
00:21:15,650 --> 00:21:19,760
the censorship because

491
00:21:17,420 --> 00:21:21,710


492
00:21:19,760 --> 00:21:24,080
with it

493
00:21:21,710 --> 00:21:26,030
circumvent actually

494
00:21:24,080 --> 00:21:28,160
need to circumvent

495
00:21:26,030 --> 00:21:31,040
because they speak the language

496
00:21:28,160 --> 00:21:32,690
on

497
00:21:31,040 --> 00:21:34,970


498
00:21:32,690 --> 00:21:36,620
as well for the government

499
00:21:34,970 --> 00:21:39,350
I've talked I've said that censorship is

500
00:21:36,620 --> 00:21:41,240
costly

501
00:21:39,350 --> 00:21:43,190


502
00:21:41,240 --> 00:21:46,610
manpower and

503
00:21:43,190 --> 00:21:49,970
actually is

504
00:21:46,610 --> 00:21:52,490
night and all it all in a research paper

505
00:21:49,970 --> 00:21:54,500


506
00:21:52,490 --> 00:21:57,020
they calculated through different types

507
00:21:54,500 --> 00:21:59,930
of censorship and how expensive it would

508
00:21:57,020 --> 00:22:01,640
be to scale them up so that is actually

509
00:21:59,930 --> 00:22:03,980
really interesting finding because

510
00:22:01,640 --> 00:22:08,690


511
00:22:03,980 --> 00:22:10,400
of

512
00:22:08,690 --> 00:22:12,290
costly

513
00:22:10,400 --> 00:22:17,180
censorship

514
00:22:12,290 --> 00:22:19,430
affecting in a negative way

515
00:22:17,180 --> 00:22:21,170


516
00:22:19,430 --> 00:22:23,450
result that we would really want because

517
00:22:21,170 --> 00:22:25,070
the incentives don't line up in that way

518
00:22:23,450 --> 00:22:27,950
and

519
00:22:25,070 --> 00:22:29,930
incentives obviously

520
00:22:27,950 --> 00:22:31,520


521
00:22:29,930 --> 00:22:33,380
through the internet the benefits that

522
00:22:31,520 --> 00:22:35,750


523
00:22:33,380 --> 00:22:40,190
businesses often

524
00:22:35,750 --> 00:22:43,040


525
00:22:40,190 --> 00:22:45,410
still benefit from

526
00:22:43,040 --> 00:22:47,240


527
00:22:45,410 --> 00:22:50,060
to do it and

528
00:22:47,240 --> 00:22:51,560
most cases but developing countries that

529
00:22:50,060 --> 00:22:54,190
start out at low service and

530
00:22:51,560 --> 00:22:55,929


531
00:22:54,190 --> 00:22:58,330


532
00:22:55,929 --> 00:23:01,269


533
00:22:58,330 --> 00:23:04,360
impact less of a negative impact and

534
00:23:01,269 --> 00:23:06,730
censorship can actually act as

535
00:23:04,360 --> 00:23:08,830
protectionism

536
00:23:06,730 --> 00:23:10,330
industries

537
00:23:08,830 --> 00:23:12,340
of censorship to push domestic

538
00:23:10,330 --> 00:23:14,559
industries and enable catch-up growth

539
00:23:12,340 --> 00:23:16,149


540
00:23:14,559 --> 00:23:17,950


541
00:23:16,149 --> 00:23:21,250
needs to be large enough so that these

542
00:23:17,950 --> 00:23:23,799


543
00:23:21,250 --> 00:23:26,710
the domestic market as well

544
00:23:23,799 --> 00:23:28,690


545
00:23:26,710 --> 00:23:31,059


546
00:23:28,690 --> 00:23:32,980
other way would be if you decided on a

547
00:23:31,059 --> 00:23:35,620
domestic internet and basically

548
00:23:32,980 --> 00:23:38,230


549
00:23:35,620 --> 00:23:40,179
which is kind of difficult

550
00:23:38,230 --> 00:23:42,159


551
00:23:40,179 --> 00:23:43,990
they still be positive for the

552
00:23:42,159 --> 00:23:47,710


553
00:23:43,990 --> 00:23:48,970
very in a very sort of something that

554
00:23:47,710 --> 00:23:51,940
should be taken with a grain of salt

555
00:23:48,970 --> 00:23:55,960


556
00:23:51,940 --> 00:23:57,429


557
00:23:55,960 --> 00:23:59,950
really interested in China and this is

558
00:23:57,429 --> 00:24:01,659
kind of where

559
00:23:59,950 --> 00:24:03,549
and i'm really trying to find a

560
00:24:01,659 --> 00:24:05,919
framework where china isn't the

561
00:24:03,549 --> 00:24:08,379
exception but instead

562
00:24:05,919 --> 00:24:11,559
into the model

563
00:24:08,379 --> 00:24:13,539
Chinese government has outsourced much

564
00:24:11,559 --> 00:24:14,500
of

565
00:24:13,539 --> 00:24:17,019
companies

566
00:24:14,500 --> 00:24:21,129
baidu

567
00:24:17,019 --> 00:24:23,529
would not exist by now actually

568
00:24:21,129 --> 00:24:25,269
censorship didn't exist

569
00:24:23,529 --> 00:24:26,950
actually see now is that we

570
00:24:25,269 --> 00:24:29,080
example is going global

571
00:24:26,950 --> 00:24:31,899
it has more functionality than whatsapp

572
00:24:29,080 --> 00:24:34,029
and they're trying to get out but

573
00:24:31,899 --> 00:24:35,889


574
00:24:34,029 --> 00:24:37,629


575
00:24:35,889 --> 00:24:39,789
censorship is starting to be a problem

576
00:24:37,629 --> 00:24:43,929
for these companies that used to benefit

577
00:24:39,789 --> 00:24:45,879


578
00:24:43,929 --> 00:24:49,059
how the character of

579
00:24:45,879 --> 00:24:53,740


580
00:24:49,059 --> 00:24:55,360
what about the future

581
00:24:53,740 --> 00:24:57,399
difficult to innovate with this kind of

582
00:24:55,360 --> 00:24:59,169
censorship and this kind of

583
00:24:57,399 --> 00:25:01,269
education that we see also makes

584
00:24:59,169 --> 00:25:03,610
innovation

585
00:25:01,269 --> 00:25:05,370
difficult in

586
00:25:03,610 --> 00:25:07,140


587
00:25:05,370 --> 00:25:09,960


588
00:25:07,140 --> 00:25:11,250
especially

589
00:25:09,960 --> 00:25:14,010


590
00:25:11,250 --> 00:25:16,350
second we see more global

591
00:25:14,010 --> 00:25:18,630


592
00:25:16,350 --> 00:25:20,490


593
00:25:18,630 --> 00:25:22,530


594
00:25:20,490 --> 00:25:25,380
internet censorship

595
00:25:22,530 --> 00:25:29,520
of a disadvantage

596
00:25:25,380 --> 00:25:31,890
the supply chains actually become

597
00:25:29,520 --> 00:25:34,140
information becomes the most important

598
00:25:31,890 --> 00:25:36,000
commodity all

599
00:25:34,140 --> 00:25:38,010
of course also makes

600
00:25:36,000 --> 00:25:40,200
more costly for the economy

601
00:25:38,010 --> 00:25:42,720
what about

602
00:25:40,200 --> 00:25:43,440
could work in the

603
00:25:42,720 --> 00:25:45,330


604
00:25:43,440 --> 00:25:47,429


605
00:25:45,330 --> 00:25:50,460
pretty attractive to most people most

606
00:25:47,429 --> 00:25:52,170
people don't try to go outside

607
00:25:50,460 --> 00:25:53,820
they don't even know that they can't

608
00:25:52,170 --> 00:25:55,470
they just don't want to do it

609
00:25:53,820 --> 00:25:57,030
second the

610
00:25:55,470 --> 00:25:59,700
machines communicate with each other

611
00:25:57,030 --> 00:26:01,590


612
00:25:59,700 --> 00:26:05,340
of the censorship that we see happening

613
00:26:01,590 --> 00:26:07,650


614
00:26:05,340 --> 00:26:09,990
affect

615
00:26:07,650 --> 00:26:12,330
and that wouldn't be a problem for what

616
00:26:09,990 --> 00:26:14,670


617
00:26:12,330 --> 00:26:18,840
sort of

618
00:26:14,670 --> 00:26:20,190
and

619
00:26:18,840 --> 00:26:22,500
economy more focused on domestic

620
00:26:20,190 --> 00:26:24,179
consumption

621
00:26:22,500 --> 00:26:28,650
then censorship might actually be good

622
00:26:24,179 --> 00:26:30,420
for that now for me

623
00:26:28,650 --> 00:26:32,429


624
00:26:30,420 --> 00:26:34,050


625
00:26:32,429 --> 00:26:36,059
aren't suited for this kind of question

626
00:26:34,050 --> 00:26:38,010
because they tend to use

627
00:26:36,059 --> 00:26:40,290
told

628
00:26:38,010 --> 00:26:41,640
measure for that second

629
00:26:40,290 --> 00:26:43,830
step

630
00:26:41,640 --> 00:26:45,990
agent-based modeling

631
00:26:43,830 --> 00:26:49,410
like to feed my

632
00:26:45,990 --> 00:26:52,170
reliable data and

633
00:26:49,410 --> 00:26:54,210
any of that

634
00:26:52,170 --> 00:26:55,890
back a couple of years

635
00:26:54,210 --> 00:26:59,340


636
00:26:55,890 --> 00:27:00,870


637
00:26:59,340 --> 00:27:02,280
that

638
00:27:00,870 --> 00:27:04,440
types of censorship which would be

639
00:27:02,280 --> 00:27:05,910
really important for my kind for the

640
00:27:04,440 --> 00:27:09,510
kind of research that I really want to

641
00:27:05,910 --> 00:27:11,640
carry out in the future

642
00:27:09,510 --> 00:27:13,710
if you have questions you can ask now or

643
00:27:11,640 --> 00:27:15,510
you can come to me later you can of

644
00:27:13,710 --> 00:27:17,059
course also sent me an

645
00:27:15,510 --> 00:27:26,700
happy

646
00:27:17,059 --> 00:27:29,640


647
00:27:26,700 --> 00:27:32,190


648
00:27:29,640 --> 00:27:34,140
have

649
00:27:32,190 --> 00:27:36,360
so if you have questions we have

650
00:27:34,140 --> 00:27:37,890


651
00:27:36,360 --> 00:27:41,010
the microphones we have

652
00:27:37,890 --> 00:27:43,470
number

653
00:27:41,010 --> 00:27:46,770
one thing

654
00:27:43,470 --> 00:27:49,560


655
00:27:46,770 --> 00:27:53,190


656
00:27:49,560 --> 00:27:56,040


657
00:27:53,190 --> 00:27:59,550
question

658
00:27:56,040 --> 00:28:02,550


659
00:27:59,550 --> 00:28:05,040


660
00:28:02,550 --> 00:28:11,550
think this would increase

661
00:28:05,040 --> 00:28:13,560
productivity

662
00:28:11,550 --> 00:28:15,030
and

663
00:28:13,560 --> 00:28:17,010
haven't seen

664
00:28:15,030 --> 00:28:20,010


665
00:28:17,010 --> 00:28:22,020
about what

666
00:28:20,010 --> 00:28:23,550
such means for productivity and that's

667
00:28:22,020 --> 00:28:25,860
kind of both ways

668
00:28:23,550 --> 00:28:27,810
now one of the things to look at

669
00:28:25,860 --> 00:28:29,820
just because you

670
00:28:27,810 --> 00:28:32,340
doesn't mean you shut down any sort of

671
00:28:29,820 --> 00:28:34,770
social network

672
00:28:32,340 --> 00:28:36,630
you

673
00:28:34,770 --> 00:28:38,610
aren't able to use it anymore

674
00:28:36,630 --> 00:28:41,040
probably spend

675
00:28:38,610 --> 00:28:43,230
find new ways to access

676
00:28:41,040 --> 00:28:49,560
would probably

677
00:28:43,230 --> 00:28:50,880
improve their productivity

678
00:28:49,560 --> 00:28:55,770
question from microphone number

679
00:28:50,880 --> 00:28:58,860


680
00:28:55,770 --> 00:29:01,050
where firms use information as an input

681
00:28:58,860 --> 00:29:02,760
to

682
00:29:01,050 --> 00:29:05,010


683
00:29:02,760 --> 00:29:08,790


684
00:29:05,010 --> 00:29:10,710


685
00:29:08,790 --> 00:29:13,350


686
00:29:10,710 --> 00:29:18,300


687
00:29:13,350 --> 00:29:21,060
that information as a commodity is very

688
00:29:18,300 --> 00:29:23,580
difficult to be used in this new

689
00:29:21,060 --> 00:29:25,860
classical way because

690
00:29:23,580 --> 00:29:28,020
that everything is

691
00:29:25,860 --> 00:29:29,790


692
00:29:28,020 --> 00:29:31,200


693
00:29:29,790 --> 00:29:33,150
because you

694
00:29:31,200 --> 00:29:36,510
basically

695
00:29:33,150 --> 00:29:38,290
and without any sort of censorship

696
00:29:36,510 --> 00:29:39,580
can talk about this a little bit later

697
00:29:38,290 --> 00:29:40,960
maybe you have some ideas that

698
00:29:39,580 --> 00:29:44,920


699
00:29:40,960 --> 00:29:47,950
interesting and

700
00:29:44,920 --> 00:29:52,210
well from microphone number 2 i'm so

701
00:29:47,950 --> 00:29:54,400
going the same direction for

702
00:29:52,210 --> 00:29:56,770
rather defined what is the optimization

703
00:29:54,400 --> 00:29:59,560
problem for the government for your

704
00:29:56,770 --> 00:30:01,540
further approaches what would be the

705
00:29:59,560 --> 00:30:04,300
optimization that

706
00:30:01,540 --> 00:30:06,430


707
00:30:04,300 --> 00:30:07,990


708
00:30:06,430 --> 00:30:10,210
the world but what is the government

709
00:30:07,990 --> 00:30:13,480


710
00:30:10,210 --> 00:30:15,640
economic welfare as defined as producer

711
00:30:13,480 --> 00:30:19,150
and consumer surplus and

712
00:30:15,640 --> 00:30:22,900
the government's goal is to optimize

713
00:30:19,150 --> 00:30:25,390
economic welfare for both producers

714
00:30:22,900 --> 00:30:28,420
consumers and also for itself as a

715
00:30:25,390 --> 00:30:30,910
producer and as a consumer

716
00:30:28,420 --> 00:30:33,910


717
00:30:30,910 --> 00:30:34,240
have a good proxy

718
00:30:33,910 --> 00:30:37,600
welfare

719
00:30:34,240 --> 00:30:38,320


720
00:30:37,600 --> 00:30:39,940
time

721
00:30:38,320 --> 00:30:40,460
please give a warm round of applause to

722
00:30:39,940 --> 00:30:45,050


723
00:30:40,460 --> 00:31:12,140
[Applause]

724
00:30:45,050 --> 00:31:12,140
[Music]