I don’t understand why perfect substitution matters. If I’m considering two products, I only care which one provides what I want cheapest, not the exact factor between them.
For example, if I want to buy a power source for my car and have two options:
If I care most about horsepower, I’ll buy the engine, and if I care most about torque, I’ll also buy the engine. The engine isn’t a “perfect substitute” for the horse, but I still won’t buy any horses.
Maybe this has something to do with prices, but it seems like that just makes things worse since engines are cheaper than horses (and AI’s are likely to be cheaper than humans).
I don’t understand why perfect substitution matters. If I’m considering two products, I only care which one provides what I want cheapest, not the exact factor between them.
For example, if I want to buy a power source for my car and have two options:
Engine: 100x horsepower, 100x torque Horse: 1x horsepower, 10x torque
If I care most about horsepower, I’ll buy the engine, and if I care most about torque, I’ll also buy the engine. The engine isn’t a “perfect substitute” for the horse, but I still won’t buy any horses.
Maybe this has something to do with prices, but it seems like that just makes things worse since engines are cheaper than horses (and AI’s are likely to be cheaper than humans).