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NewYorkerIs Capitalism a Threat to Democracy?
The idea that authoritarianism attracts workers harmed by the free market, which emerged when the Nazis were in power, has been making a comeback.
SalonFree markets killed capitalism
Ayn Rand, Ronald Reagan, Wal-Mart, Amazon and the 1 percent’s sick triumph over us all // Monopoly is back: Barry Lynn on the concentration of American economic power -- and how we can restore fairness
ArxivMarkets are efficient if and only if P = NP
I prove that if markets are weak-form efficient, meaning current prices fully reflect all information available in past prices, then P = NP, meaning every computational problem whose solution can be verified in polynomial time can also be solved in polynomial time. I also prove the converse by showing how we can "program" the market to solve NP-complete problems. Since P probably does not equal NP, markets are probably not efficient. Specifically, markets become increasingly inefficient as the time series lengthens or becomes more frequent. An illustration by way of partitioning the excess returns to momentum strategies based on data availability confirms this prediction.
YouTubeThe Rise of the Machines Why Automation is Different this Time
Fear the machines... and capitalism.
Ars Technica“Is curing patients a sustainable business model?” Goldman Sachs analysts ask
Analyst report notes that Gilead’s hep C cure will make less than $4 billion this year.
The New YorkerUrsula K. Le Guin on writing and capitalism
“We live in capitalism. Its power seems inescapable. So did the divine right of kings. Any human power can be resisted and changed by human beings. Resistance and change often begin in art, and very often in our art—the art of words. ... Right now, I think we need writers who know the difference between the production of a market commodity and the practice of an art. Developing written material to suit sales strategies in order to maximize corporate profit and advertising revenue is not quite the same thing as responsible book publishing or authorship. (Thank you, brave applauders.) ... We will need writers who can remember freedom”
nymagGlitch Capitalism: How Cheating AIs Explain Our Glitchy Society
Of all the buzzy 21st-century tech phrases, “machine learning” threatens to be the most important. Programming computers is slow, but we’re nearing the point where humans give the bots parameters and let them teach themselves. After all, computers can run tons of simulations and figure out the instructions we would have given them if we knew enough. Thus, we don’t try to define a sheep for image-recognition software (that would be hard!), we give the computer a bunch of sheep pictures and let it figure out the most efficient way to define the commonality. It sounds easy enough, except sometimes machines learn the wrong lessons.
NYTimesThe Climate Crisis? It’s Capitalism, Stupid
A recent Times opinion piece included this quotation from the paleoclimatologist Lee Kump: “The rate at which we’re injecting CO2 into the atmosphere today, according to our best estimates, is 10 times faster than it was during the End-Permian.”
YouTubeInside Job Official Trailer
From Academy Award® nominated filmmaker, Charles Ferguson (No End In Sight), comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008.
thoghtinfectionCapitalism is a Paperclip Maximizer
There is a classic thought experiment in the field of artificial intelligence which is often used to explain how an AI might inadvertently cause the destruction of humanity as a by-product of trying maximize its goals. There is a great wiki on the subject here, but the basic idea of the paperclip maximizer posits the emergence of an artificial general intelligence which is capable of performing not only complex functions, but also is able to innovate means to improve its own function.
TheAtlanticThe Meaninglessness of the Stock Market Index in a Digital World
It’s not a good snapshot of the economy, which is incomprehensible anyway, and we now have far more information to understand the country’s companies.
TRUTH-OUTSocialism for the Rich, Capitalism for the Poor
An Interview With Noam Chomsky. "Concentration of wealth leads naturally to concentration of power, which in turn translates to legislation favoring the interests of the rich and powerful and thereby increasing even further the concentration of power and wealth. Various political measures, such as fiscal policy, deregulation, and rules for corporate governance are designed to increase the concentration of wealth and power. And that's what we've been seeing during the neoliberal era. It is a vicious cycle in constant progress. The state is there to provide security and support to the interests of the privileged and powerful sectors in society while the rest of the population is left to experience the brutal reality of capitalism. Socialism for the rich, capitalism for the poor." — Noam Chomsky
eandDoes America Have Capitalist Stockholm Syndrome?
Why Are the Fiercest Defenders of Capitalism Those Who’ll Never Be Capitalists?
WiredThe Way the World Ends: Not with a Bang But a Paperclip
Paperclips, a new game from designer Frank Lantz, starts simply. The top left of the screen gets a bit of text, probably in Times New Roman, and a couple of clickable buttons: Make a paperclip. You click, and a counter turns over. One. // The game ends—big, significant spoiler here—with the destruction of the universe.
buzzfeedSilicon Valley Is Turning Into Its Own Worst Fear
We asked a group of writers to consider the forces that have shaped our lives in 2017. Here, science fiction writer Ted Chiang looks at capitalism, Silicon Valley, and its fear of superintelligent AI.
democracyjournalDigital Capitalism’s War on Leisure
Market forces are invading the space for leisure. Defending it will require nothing less than a return to robust twentieth-century social democracy.
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