This is the first book I have found that succeeds in understanding the tragic crisis of our present times from the perspective of digital technology. Pasquale is a Professor of Law and he approaches the power of secrecy in what many of us have come to call 'the matrix' through the legal system. The legal view is practical as inevitably it will be real-world law that releases us from the tyranny of massive data collection going on every day in each of our lives. We live in the Internet, like it or not.
Now is the time for us to rethink our euphoria with technology. As Frank Pasquale says, there can be no relationship of trust with a 'black box' and Silicon Valley's top managers are not great sages — in fact they "hide behind corporate operations so covert that their actual contributions are hard to assess...why all the secrecy?" Pasquale states that the focus of his book is, "How has secrecy become so important to industries ranging from Wall Street to Silicon Valley?"
As you now know, your online behaviors, from banking to shopping to searching for anything including health information, and your cell phone use are as Pasquale says, "...fed into databases and assembled into profiles of unprecedented depth and specificity." This information is then sold to companies you know nothing about and used to market to you, to evaluate your potential to get a job, a mortgage, a loan, rental, and many other dreams you may have that could be denied to you because of collected data you know nothing about. There is no such thing as a 'free' App — all Apps are Trojan Horses and come with what I call cooties that stick in your computer and allow your clicks, your personal choices to be amassed as data.
"The tendency towards psychological collectivism does not have man's welfare as its end. It is designed for his exploitation." - Jacques Ellul
Perhaps the most egregious example of the 'black box' take over is in the area of finance. It was algorithms that allowed the subprime mortgage collapse to destroy the lives of so many people. Algorithms have expanded exponentially into every aspect of banking, bonds and stock markets, with ever increasing mazes of derivatives, CDOs collateralized debt obligations, now in the trillions of dollars. Humans no longer trade global markets, as algorithms move stocks, commodities, and currencies around the planet in seconds. I'm sure you've heard of HFT, high frequency trading, which is a high-tech form of front-running. A 'flash-crash' can take markets down a thousand points in a few seconds. Perhaps 'dark pools' are unfamiliar, but these dark pool 'bots' are "artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to outmaneuver their creators, ultimately hijacking the global markets from human control and pushing the entire system toward a global meltdown that could happen in seconds." [Scott Patterson]
Greed is not Good! Because there is so much money involved, these genius quant creators of algorithms are constantly refining and expanding the technologies that now invade every aspect of our lives. Therefore there can be no 'transparency' as regulators struggle to even understand an ever-changing field created by minds digitally oriented and advanced beyond most. The private companies and corporations pay these digital geniuses far more money than the government agencies that are supposed to protect the public, very often the stealing the best from government agencies, luring them with hugely obscene salaries. So the innovators are running the game leaving the rest of us, even those who are paid to protect us, clueless in the dark and vulnerable.
As Pasquale says, "Secret algorithms — obscured by a triple layer of technical complexity, secrecy, and 'economic espionage' laws that can land would-be whistle-blowers in prison — still prevent us from understanding what is truly going on in many major financial firms." Regarding the safety of the banking system, my local small town banker admitted to me privately, "They haven't fixed anything!"
The people who have access to secret technology are way ahead of the rest of us. Some have called this the 'breakaway civilization'. Part of this secret technology is what Pasquale is calling "secret algorithms — obscured by a triple layer of technical complexity, secrecy, and 'economic espionage' laws that can land would-be whistle-blowers in prison still prevent us from understanding" which lets face it, prevents us from understanding much of anything about the veiled secretive world we are now forced to inhabit.
Pasquale reports Eric Schmidt of Google saying he wants Google users the be able to ask it, 'What shall I do tomorrow?' and 'What job shall I take?' This is beyond creepy and moving into the domain of a totalitarian invasion of the human heart and psyche. Power corrupts and erodes human integrity in myriad ways. The power to obfuscate these technologies, to use them for their own profit; to manipulate people, markets, global finance — this kind of power has never been seen on this planet in written history, the last 6000 years. This super power for what has become a Superclass has made the elite insane, insane with greed. Only insane men and woman would destroy the middle class, which is a necessity for a successful democracy. And in the largest transference of wealth in history, confiscate 90% of the wealth of the planet for themselves, the 1%. That's irresponsible madness.
Greed makes people blind, delusional, they lose their moral-compass in an obsession to get what they want anyway the can. One popular expression of this with the arrogant who now consider themselves to be masters of the universe is the phrase, "If you're not doing anything, get out of my way!" They call us 'eaters' and appear to have lost all respect for the so called common man, those of us who are not members of the new Superclass, "an international upper class of people whose economic interests had more in common with each other than with the majority of people who share their nationality. [D. Rothkopf]" Nation states are finished. It's a global corporate state in their eyes.
The men & women who wield the power of these secret technologies are now taking over the planet under the guise of what is called 'globalization' which is supposed to benefit mankind. However globalization "undercuts many national and local power structures and cultural concepts that have foundations deep in the bedrock of human civilization, namely the notion of sovereignty. [D. Rothkopf]" And even the most uniformed and gullible have now understood that 'globalization' only benefits the 1% and their minions the vampire squid.
Take the Trans Pacific Partnership, the TPP for example. No one is allowed to read this trade agreement, which commondreams.org says should never be called a trade agreement — because the TPP is "a corporate/investor rights agreement...that extends patents, copyrights and other monopolies so investors can collect 'rents' (and) elevates corporations and corporate profits above the level of government." You can be sued for breaking corporate laws you know nothing about. We are watching our lives and the future turned into a global technological corporate authoritarian empire that every minute of the day secretly tracks us in vast databases stored around the planet — our home planet that is being polluted and poisoned as global corporations extract her resources.
With promises of freedom and propaganda, the techno-wizards that created the Internet, the new self-styled masters of the universe have seduced us into a complacency — mesmerized by the latest toxic doo-dah-toys that blind us to the fact that with every hypnotic click, we are spinning out our own spiders web that entraps our consciousness, awareness and intelligence, a stealth 'net' that without our knowledge confines our thoughts in the dictates of the invisible elite and enslaves us.
Is the idea of responsible government oversight now impossible? Who is in control — the corporations with their political dynasties and sock-puppet minions? The future of the individual, you and me, is solely in our own hands. I doubt that people who are qualified, and not mad with greed, can anytime soon usefully moderate this rabid advance of globalization and pernicious data collection. There have always been these elites, such as the Robber Barons of the 1880s and 90s — "tycoons of the Gilded Age were also unfettered by institutions that might have regulated the rough-and-tumble business that brought so much wealth to the fortunate few. [D. Rothkopf]"
We all know that our world is rapidly changing. Are we simply in a transition stage moving from an Industrial Age to a Technological Era? Some say we should just adapt. Or are we in the early stages of an Orwellian global authoritarian state the likes of which this planet has never before experienced.
The advances in technology since the 1940s are beyond exponential! They are flat out incredible, meaning not believable, unless. Are we really so brilliant that we could achieve all this in such a short time? So what are they really hiding? Can it be that these secret technologies are the ill-gotten gains from the tyrant ETs — who have little or no interest in the well being of planet Earth and humankind?
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Very good book
This book introduces readers to one of the most important problems given their consequences of modern life: privacy.It shows how large corporations (including governments) increasingly capture data of the individual citizen, while there is an increasingly opacity of their behavior.Really recommended
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Tatiana Sharatova
Good source of information.
Reviewed in the United Kingdom on May 11, 2021antonio
E' un regalo a mio figlio per la laurea
Reviewed in Italy on February 1, 2020Amaan
Amazing read! Opens your eyes to the world in ...
Reviewed in Canada on October 7, 2016