FINANCIAL TRUST

Audio-book Review
By Chet Yarbrough

(Blog: awalkingdelight)
 Website: chetyarbrough.blog

The Future of Money (How the Digital Revolution is Transforming Currencies and Finance.)

By: Eswar S. Prasad

Narrated by: Stephen R. Thorne

Eswar Prasad (Author, Economist.)

“The Future of Money” offers a short history and long explanation of the strengths and weaknesses of filthy lucre.

Prasad begins with the often-told story of how money began as a precious metal transforming to paper for easier exchange between seller and purchaser. The value of money has always been malleable. Its value changed in early times based on authoritarian rule and later in ways Prasad’s book explains as an evolutionary trust of money.

Genghis Khan is at one end of the spectrum where currency value is based on the value set by the ruler. If one disagrees with money’s mandated value, you are executed. Later the value of money is supported by full faith and credit of respective governments, inferring execution is less likely.

In modern times, value of money is turning to technology. Still, in every case, Prasad notes money’s value is based on trust.

Eswar Prasad explains money’s transformation from coin to paper to digital exchange. Prasad shows digital money is less tactilely filthy, but its form and value is as impactful as ever. In the remainder of Prasad’s long book, reader/listeners find how difficult it is to provide foundational legitimacy for digital currencies.

A number of chapters of Prasad’s book reveals the many financial transaction rails (electronic payment methods) that have been created with the widening use of the internet.

A cashless society began with credit cards and has proliferated to where “coin of the realm” is not accepted by some vendors. Prasad explains transaction fees on credit cards have led to alternative payment rails to reduce costs to both vendors and buyers.

As of 2021, the most commonly used alternative methods of payment are PayPal, Apple Pay, Google Pay, Bizum, WeChat, and Alipay. The number of users of these payment rails is increasing because of credit card’ fees.

Two with the most customers, WeChat and Alipay have over a billion users each.

Today, particularly after the FTX fiasco, digital money’s value has lost trust. All forms of value in money are subject to human fallibility. The fallibility of any form of money is in humankind’s nature which is subject to ignorance, greed, and power.

An attempt is made to mitigate greed and power with bitcoin. One suspects ignorance of digital currency remains for most of the public. Anyone can access the bitcoin platform. Theoretically no one can identify a singular person’s account without that person’s personal access code that can only be entered from the owner’s computer device. However, there remain fundamental reasons for one to be skeptical of a bitcoin owner’s security. Trust continues to be a concern for cryptocracy’s utility and value.

Aside from business ineptitude, having one’s own key to a bitcoin entity is no guarantee of security, even if any entry from another computer cannot use the key? What keeps a hacker from capturing a user’s code in blockchain and cloning a bitcoin computer to use the key to steal bitcoin value?  

Theft of passwords and private keys is hackable if information is kept anywhere in a computer file. This is not to mention the capability of social engineering by smooth-talking hackers.

FTX is in court today. Value of bitcoin assets has fallen to the point of FTX’s possible bankruptcy. It is unclear if the FTX collapse is from weakness of bitcoin transparency or its founder’s ineptitude. In any case, there is a precipitous loss of trust in bitcoin value.

How is bitcoin blockchain security significantly different in today’s tech-savvy world? One argument is that its control is decentralized rather than centralized. So what? Decentralized control carries its own set of risks.

The reality is bitcoin’ blockchain use and creation is part of what has led to the FTX mess. The so-called strength of not having centralized regulation of digital currency is shown to be a weakness. The pitch is that bitcoin is designed and intended not to require government regulation because of the mystical belief that regulation magically appears because of user transparency. Blockchain security does not appear to be any more trustworthy than a paper dollar in a tech-savvy world.

Another issue raised by Prasad is value instability of bitcoin.

Crypto currency is being tested by different governments around the world. These governments are trying to widen crypto currencies trust and value through greater diversification of support from nation-state’ assets. The idea may reduce instability, but there remains a question of oversight. Yes, oversight–that dreaded function labeled government regulation. User transparency is not enough as is proven by the failure of FTX.

Prasad tackles the complexity of inflation and the difficulty of controlling its negative impact on public welfare and economic health. Inflation often leads to a cycle of impoverishment that hits those who are poorest the most.

When inflation occurs, the cost of living (particularly food and shelter) is disproportionally lost by the poor. What is called helicoptering of money to families below a certain income level mitigated the worst consequence of unemployment during Covid in the United States. Covid’s impact and the decision to helicopter money caused a cycle of inflation in America, but it also reduced hardship and stabilized the economy.

Prasad notes inflation is being mitigated by Federal Reserve’s tightening of monetary policy by raising interest rates. The risk of that action is that those at the lowest end of the income market may lose their jobs because of industry layoffs. Prasad explains rising interest rates reduce business investment which can trigger a downward spiral in the economy.

It seems no coincidence that homelessness has become a national problem in America at the time of monetary policy disruption. Some argue change in monetary policy and Covid recovery have nothing to do with homelessness. Some argue citizens have just lost their motivation to work. Believing it is a loss of motivation seems ridiculous when one looks at conditions in which the homeless live. Whatever the cause, America is the wealthiest nation in the world and can reduce homelessness by acting responsibly.

Though not addressed by Prasad, homelessness is a national problem that should be funded by the national government at a local level so cities can adequately attack its multiple causes.

Prasad notes helicopter funding is only one arrow in monetary policies government quiver. Digital currency has made some people rich, but its control needs to be regulated to serve the needs of society more broadly.

One idea Prasad explains is the idea of a central bank digital currency (aka CBDC), presently being studied by the Federal Government.

Bitcoin, under the supervision of government, is a contradiction of the original inventor’s intent. However, the idea of blockchain, technology, and bitcoin opens a door to improving economic conditions of the poor around the world. The potential for CBDC, in concert with today’s access to internet payment rails, is a growing 21st century economic opportunity. It is not because of the idea of CBDC alone, but CBDC in concert with the internet and mobile phones could change the course of economic history. The evidence Prasad points to is Africa and the creation of a mobile phone service that offers the poor a way to pay bills without a checking account and collect income for product created for sale.

Prasad explains how people in the lowest economic classes have gained access to money for pay and income by using features of mobile phones.

Prasad explains the many experiments with digital currency are changing the world’s economy. Prasad notes the general concern is the amount of influence and regulation a government digital currency might have on its country of origin. On the one hand it offers opportunity for economic improvement. On the other, it creates a vehicle for an intrusive invasion of privacy. Anything entered into a computer potentially becomes public knowledge.

Further, Prasad notes the American dollar is already the most influential currency in the world. The idea of an American controlled digital currency is threatening to many countries, both in western and eastern blocs.

One who reads Prasad’s book is likely to conclude America will eventually create a digital currency. FTX shows digital currency cannot regulate itself without oversight. Whether America will remain the big dog in currency influence depends on an unknown future. No government’s digital currency has been successful as of this date.

METAVERSE

Audio-book Review
 By Chet Yarbrough

(Blog: awalkingdelight)
 Website: chetyarbrough.blog

The Metaverse (And How It Will Revolutionize Everything)

By: Matthew Ball

Narrated by: Luis Moreno

Matthew Ball (Author, Managing Partner Epyllion Industries.)

“The Metaverse” is widely talked about but little understood by the public. In Matthew Ball’s densely packed review of todays and tomorrow’s tech future. Listeners will be surprised to find how far the metaverse is from today’s world but how life-changing it will be in the future. The metaverse has not achieved its potential but when fully developed, Ball implies the metaverse will be the most revolutionary societal change since the industrial revolution.

Ball infers metaverse’ virtual and augmented reality are at a “model T” stage of development.

Model T Ford built in October 1908.

For we who are ignorant of the inner workings of coding and computer hardware, Ball implies metaverse’ virtual and augmented reality are at a “model T” stage of development. Having to use a cumbersome headset or computer aided eyeglasses are far from accurately creating or recalling reality. Ball explains, to achieve reality in the metaverse, hardware and software development is many years from success. The computer power and coding requirements, not to mention political regulation, of a metaverse are limited by current human capability and knowledge. However, Ball notes that capability and knowledge are works in progress.

Today’s metaverse is constrained by headset utility and code limitations.

The metaverse is an expansion of the internet. Once a metaverse reaches its full potential, it will create a three-dimensional network that will be different, if not new, reality. It will encompass the world as it was, as it is, and as it will be. Ball’s explanation of the metaverse is optimistic but burdened by an unlikely change in human nature.

The internet, Facebook, Apple, Amazon, Google, and Microsoft seem at the head of the class for today’s metaverse.

Facebook creates social connection. Apple creates hardware with IPhone portability, Amazon creates a marketplace, Google and Microsoft create software. They all capitalize on internet use. They coordinate lesser-known businesses and code creators to chip away at the complexity of creating a virtual 3D world. Because five mega-corporations are at the center of metaverse’ research, they are an indicator of a political danger. Having singular controllers of the metaverse threaten societal independence and choice. Later chapters suggest a key to containing that danger is block chain computing.

Block chain is a list of interconnected records that everyone can see but cannot change. It offers transparency that theoretically allows one to judge its validity. What it does not consider is the oversight of records and how information may be hacked to distort reality or steal value.

The collapse of FTX in 2022/2023 is a prime example of block chain risk.

As coding achieves the goal of three-dimensional creation, the idea of augmented reality becomes real. The simple idea of replicating a 3D piece of clothing requires reams of ones and zeros written by teams of coders. No singular company can hire enough coders to create three dimensional animate and inanimate objects. Ball explains the key to successful metaverse creation is capitalist freedom. Coders are media users, some of which become independent contractors who create ones and zeros that detail characteristics of the world for established internet companies. They are compensated for code that details objects like a shoe with shoelaces, eyelets, a corrugated sole, colors for its various parts and everything that makes a shoe a real thing.

The roadblock to achieving virtual reality is in the laborious task of coding to replicate details of life in three dimensions.

Ball explains gaming is at the front end of today’s metaverse because it is a first step that does not require the massive input needed to create a three-dimensional world.

The irony of this observation is that the best future coders are today’s youth who are captured by the gaming industry. As these young people mature, their coding experience reinforces the future of the metaverse. Ball notes the gaming industry opens the door to a two-dimensional world which infers potential for creating the third dimension, i.e., the world in which we live.

Ball argues a key to create the metaverse is capitalism and its practice in a free society.

The wealth of nations owes its prosperity to the industrial revolution. Ball’s argument for “capitalism in a free society” as the prime mover for the metaverse is weakened by recorded history.

Authoritarian leaders like Joseph Stalin used force to industrialize Russia into the U.S.S.R. Not just capitalism in a free society is a prime mover for the metaverse. Authoritarianism is an equivalent (much harsher) prime mover for the potential of the metaverse.

President Xi in the 21st century appears to be heading in a more Stalinist authoritarian direction.

The metaverse may be the equivalent of the industrial revolution but whether that will be a good or ill omen is as difficult to know as whether A.I. will be an enhancement or threat to society.

Will the metaverse change human nature–doubtful. Money, power, and prestige have ruled the world since the beginning of history.

The metaverse is unlikely to change human nature. What Ball makes clear is the metaverse is here in a two-dimensional, gaming and internet sense. It will only become more powerful as the third dimension is added.

LEARNING AND MEMORY

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
 Website: chetyarbrough.blog

The Extended Mind

By: Annie Murphy Paul

   Narrated by: Annie Murphy Paul

Annie Murphy Paul (Author, graduate of Yale and Columbia University with a Journalism major).

Annie Murphy Paul is a science writer who has lectured at TED TALK about learning, memory, and cognition. She has written articles for “Scientific American”, and several national newspapers. The interesting insight of “The Extended Mind” is that learning, teaching, and memory are significantly enhanced by physical activity.

From birth to maturity, Paul notes physical activity is a critical component of human thought, and action but memory is a critical dimension for both.

This seems tautological at first glance. After all, learning by doing is a self-evident truth. However, Paul explains learning by doing is only the tip of a much larger truth. She argues physical activity informs and extends the mind to ignore, remember, repeat, or forget everything we know or do. Without physical activity, minds atrophy, memories fade, and bodies die.

Paul explains learning is enhanced by physical activity.

Scientific experiments show that learning and memory are improved by association with physical movement. Reading about an experiment may enlighten the uninformed; however, being the experimenter enhances memory of the experiment’s proof. Sitting and thinking about doing is more forgettable than doing what one is thinking about.

Paul notes that association with physical movement is like a mnemonic that aids memory.

She suggests a defined hand gesture has more value than mnemonic association for memory. One might think of a “P” to remember Paul as the author of this book. On the other hand, one might physically form the letter “P” with three fingers and the memory of the author becomes more memorable.

Paul cites several examples of how teachers have improved their teaching skills by encouraging physical activity with interactive class assignments and subjects.

Paul suggests strict order in a classroom (e.g., sitting at one’s desk and reading an assignment or teacher dictation of lessons) limits memory of subjects covered in the school room. She suggests learning is enhanced by social interaction.

After brief experience as a high school teacher, some of what Paul explains makes sense. The difficulty is implementing her ideas when trying to balance the variety of student strengths and weaknesses with their social and economic difference.

Learning may be improved by social interaction, but human nature often gets in the way. For example, social interaction may be viewed as a threat to an introverted student. The introvert is unlikely to participate in a social grouping. The same can be said of those with a different religion, heritage, ethnicity, or gender.

On the other hand, there is wisdom in requiring social interaction even when involving students who are introverted or challenged by their familial upbringing. People grow and educate others from uncomfortable emotional and physical circumstances.

Paul extends her argument to business office environments and how collaborative office orientations improve company creativity and performance.

She tempers that argument based on group preferences where some may be more comfortable in an environment that is more structured than unstructured. This is not contradicting the argument of physical activity as essential for enhanced productivity in the office. She goes so far as to suggest treadmills at workstations for some offices.

Several years ago, this critics preference for audiobooks came from boredom associated with activity that required little directed attention.

Personal experience confirms Paul’s argument. Though detailed memory is far from ideal, exercise while listening to an audiobook has been rewarding.

EDUCATION AND FREEDOM

Audio-book Review
           By Chet Yarbrough

(Blog:awalkingdelight)
 Website: chetyarbrough.blog

Journey to the Edge of Reason (The Life of Kurt Gödel)

By: Stephen Budiansky

Narrated by: Bob Souer

Stephen Budiansky (American writer, historian, and biographer with B.S. in chemistry and S.M. in applied mathematics, Yale and Harvard.)

Stephen Budiansky offers a biography of one of the greatest mathematicians of the 20th century. His name was Kurt Gödel.

Kurt Gödel (Logician, mathematician, philosopher 1906-1978.)

It is the biographic details and good writing that make “Journey to the Edge of Reason” interesting. Budiansky sets a table for what becomes Gödel’s life.

Budiansky explains the history of Austria before WWI and WWII. Gödel’s family lives an upper-middleclass life when their son Kurt is born. That lifestyle is interrupted by WWI and destroyed by WWII. In the mid-19th century, the Austro-Hungarian empire, particularly Vienna, is a center for education and culture in Europe. Unlike much of the continent, equality of opportunity, regardless of religion and ethnicity, were available in the Austro-Hungarian’ capitol of Vienna. For a short time, Vienna became a magnate for Jewish immigrants seeking education and opportunity.

Emperor Franz Joseph I of Austria (Emperor of Austria, King of Hungary 1848-1916)

When the heir to Franz Joseph’s throne, Archduke Francis Ferdinand is assassinated, religious and ethnic difference becomes increasingly disparate and nationalistic. After WWI, it becomes impossible for the empire to stay together, but Vienna remains a cultural and educational center for Europe. It is in this environment that Gödel is born and formally educated.

The culture changed with the death of Emperor Francis Joseph I in 1916. The change began with Austria’s defeat by the German state of Prussia in 1866. Francis Joseph’s leadership required accommodation to hold the empire together, but seeds of discontent and discrimination were sown. The empire’s population is constituted by Austrians, Czechs, Croats, Serbs, Slovenes, and others, with different religious affiliations.

Gödel is an excellent student who attends studies among many who were increasingly discriminated against, particularly Jews. Though not Jewish, Gödel is not infected by growing anti-Jewish sentiment of the times. Budiansky reminds listeners that Hitler grows up in this Austrian Viennese environment.

WWII arrives and the Gödel family falls on hard times. Before the second world war, in 1931, Kurt Gödel develops the “incompleteness theorem” of mathematics. He is only 25. He is soon recognized by leading mathematicians for this foundational theory.

Kurt Gödel developed two theorems of mathematical logic that limit the provability of mathematics. One plus one makes two, but Gödel’s fundamental theories claim its truth is mathematically unprovable. To one steeped in mathematics that may make sense. To this reviewer, it does not.

Budiansky explains how Gödel eventually escapes Vienna at the beginning of WWII. He arrives at Princeton in 1940. Gödel becomes close friends with Einstein and Oskar Morgenstern. Budiansky notes how instrumental other geniuses, like John von-Neumann, were in advancing Gödel’s career.

John von Neumann (1903-1957, Hungarian American mathematician, physicist, computer scientist, engineer and polymath with an eidetic memory.)

A striking fact in Budiansky’s biography of Gödel is how many geniuses came to America from the Austro-Hungarian Empire. Without its education system, the Viennese equal opportunity, and the attraction of western freedom, the advance of science and its role in the world would be diminished.

Gödel’s life story revolves around math and its provability limits. Gödel’s life waivers between paranoia and accommodation with periods of terror and intermittent tranquility. Gödel’s paranoia is relieved at times and Budiansky notes his friends recognized his genius while noting his episodic behavioral abnormality.

A listener begins to believe Gödel’s personal life becomes defined by a consciousness of unprovable actions and intentions of others, exacerbated by events over which he has little control.

A surprising sidelight to Budiansky’s biography is Gödel’s odd marriage to what Budiansky characterizes as an uneducated Austrian woman named Adele.

Budiansky explains Adele saves Gödel’s life by bringing him back to reality when he nearly starves himself to death with a paranoid belief that someone is trying to poison him.

Gödel takes daily walks with Einstein. Their walks are legendary according to Budiansky.  They were frequently seen together at Princeton. Einstein recognizes Gödel’s paranoia for what it is but acknowledges the brilliance of his understanding of mathematics, its logistic continuity, and its limitation.

There often seems a fine line between genius and normality. One is reminded of the unheralded Paul Dirac who is compared by some to Einstein but, because of his isolationist behavior, is largely unknown to the general public.

As a non-mathematician one may not understand the importance of Gödel’s theory, but Budiansky does a great service to the public by writing Gödel’s biography.

HUMANITY’S FATE

Audio-book Review
           By Chet Yarbrough

(Blog:awalkingdelight)
 Website: chetyarbrough.blog

Superintelligence

By: Nick Bostrom

Narrated by: Napoleon Ryan

Nick Bostrom (Swedish philosopher at University of Oxford, author.)

Nick Bostrom explains the difference between A.I. potential and human brain limitation. With addition of sentient reasoning, Bostrom explains the incomprehensible leap beyond human brain capability with the advent of artificial intelligence.

Bostrom argues A.I. is approaching an information collection and processing capability with potential for sentient reasoning.

That leap can be viewed with fear and trembling as inferred by Bostrom or it might be seen as a next step in human evolution.

Bostrom’s concern revolves around human brain limitation in setting standards for A.I.’ programming.

Science is at a threshold of brain emulation where A.I. may assume the role of human thought and action.

A machine’s ability to recall billions of facts and historical precedence cannot be matched by the human brain. However, the significance of A.I.’s achievement is delimited by how it may be programmed to have moral, ethical, and normative standards that benefit humanity. The difficulty of that programing is humanity’s continual redefinition and lack of agreement on normative standards.

One may ask oneself how good a job has human evolution done in setting standards for humanity? Have authoritarians like Vladimir Putin, and Donald Trump benefited the world?

Bostrom notes two fundamental scenarios for human evolution. Both seem more a return to the past than to the future. Bostrom suggests A.I. will become either an oracle or sovereign leader of humanity. As an oracle, one is reminded of Athenian fealty to the Oracle of Delphi. As sovereign, one is reminded of Augustus Caesar, Caligula, Franklin Roosevelt, and Adolph Hitler. Humanity has survived all–both false predictions of the Oracle and atrocities of sovereigns.

It is unfair to suggest Bostrom is not revealing the difficulties accompanying the introduction of A.I. to humankind. The reality of advancing intelligence through machine learning far outstrips the ability of any singular past or present scientist, philosopher, or politician. One is intimidated by the shear complexity of programing A.I. and its potential for benefit and harm to humanity.

To understand humanities place in the world, human beings cannot agree on what is moral, amoral, equitable, or unfair in society.

How will input from human beings to an oracle or sovereign A.I. escape the imperfect nature of humankind? Added to that difficulty is A.I.’ potential to ignore the best interest of humanity in the interest of its own self-preservation.

Bostrom’s book is interesting, but he beats the idea of A.I.’s ascendance to death by delving into game theory. Bostrom notes the world’s race to create artificial intelligence has the potential of ignoring safeguards for A.I.’s growth and potential for world domination.

Though abandoning safeguards is quite true as evidenced by the Crispr revolution that opened Pandora’s box of genetic manipulation, evolution of species is a fundamental law of the world’s existence.

A.I. is a step in the evolution of species. Its consequence is unknown and cannot be known because it follows the randomness of genetic selection. Humanity needs to get over it and get on with it. A.I. will either be humanity’s savior or its doom.

MEDIA TRANSPARENCY

Audio-book Review
           By Chet Yarbrough

(Blog:awalkingdelight)
 Website: chetyarbrough.blog

Lie Machines (How to Save Democracy from Troll Armies, Deceitful Robots, Junk News Operations, and Political Operatives.)

By: Philip N. Howard

Narrated by: Mike Chamberlain

Phillip N. Howard (Author, professor at University of Oxford.)

The subtitle of Phillip Howard’s book is hyperbolic. Howard offers a glimmer of hope to the public on “How to Save Democracy from Troll Armies…”  He does define the problem, but the solution is elusive.

Howard identifies interest-group’ tools used by lie machines to mislead the public. Howard shows how “Junk News”, some of which are outright lies, have consequences.

Freedom is an essential tenant of Democracy. One does not doubt Howard’s exposé on Democracy’s threat from “…Troll Armies, Deceitful Robots, Junk News Operations, and Political Operatives.”  

There is the Brexit campaign that lied about thousands of pounds saved per month which Great Britain could use for healthcare. That lie is debunked by most English economists.  There is the Pizza company child pornography hoax during Hillary Clinton’s campaign for President. It is clearly identified as a hoax that had no basis in fact.  Howard’s point is that lies have consequences. However, the exact consequence is often not precisely quantifiable. Did voters change the course of history by believing these lies?  Was the Brexit decision and Hillary Clinton’s loss of the presidency caused by lie machines?  Those are fair questions, but they have no definitive answer.

Is it criminal to advertise Prevagen as a memory improvement product when there is little science to prove the claim?  Is that different than an interest groups’ lie about how many pounds Great Britain will save with Brexit? Consumers decide for themselves whether a lie is a lie or just an interest groups’ bias. 

Balancing democratic freedom of speech against what Howard fairly identifies as “junk news” is impractical in the internet age.

As Howard notes, more private information is available to interest groups in the 21st century than ever before.  Government, commercial, and private interest groups are willing to pay privately held companies to gather and collate that personal information. Their ability to distort truth is enhanced by algorithms that accumulate that private information to tell others more about what we believe than what most know or understand about ourselves.   

Media moguls, like product advertisers, are selling belief with detailed information about who we are, what we buy, who we buy from, and intimate details of our lives freely given on public platforms like Facebook, Twitter, and Google. 

On 4/25/22 we are advised that twitter is being purchased by Elon Musk. Musk idealistically presumes all should have a right to express their opinion. There is truth and lie in that idealism. Truth is the selective statement of facts by major news feeds like the NYT and WSJ. Lie is the statements of muckrakers like Alex Jones.

As Supreme Court Justice Stewart’s once said about pornography, “I know it When I see it”. Freedom of speech can only be regulated by the same yard stick.  A lie is a lie and those who believe in democracy can only rely on themselves for knowing a lie when they see it.

Alex Jones and conspiracy on the Sandy Hook School killings.

Howard’s examination of “Lie Machines” reveals a great deal about how lies become the basis for conspiracy theories that mislead the public.

The best one can say about Howard’s great reveal is that every citizen in any society needs to be skeptical. Ironically, Howard implies skepticism compounds the problem of “Lie Machines” by making one believe nothing.  One must ask oneself—are there special interests promoting this “fact”, is this fact a lie, should I act based on a lie. 

Howard’s solution is to require transparency from the “internet of things”.

He argues any public internet platform should be legally required to reveal the source of their information and that no information should be collected unless authorized by the provider. There is some merit in Howard’s solution. The concern is that there must be supervision of that requirement.  Who is the supervisor?  If it is government, what are the rules of enforcement?  Democracy requires checks and balances. 

Whether one is part of the government, a business, or a private citizen, all are subject to the faults of human nature.  Can a bureaucracy be created with the required checks and balances that mitigate human nature’s desire for money, power, and prestige?

America is a government of laws and has prospered in part because of checks and balances that ameliorate the worst consequences of human nature. Is regulation of the internet by government better than self-regulation?  Who regulates government?

Some argue, the voter regulates government by elections.  This is the same voter that elected Abraham Lincoln and Donald Trump, one of which deserves high praise; the other something much less.

Revealing “Lie Machines” is the best of what Howard has to offer.  The solution revolves around transparency but the mechanism for enforcement beyond individual skepticism and “buyer beware” attitude seem invasively dangerous.

AMERICAN MALAISE

Audio-book Review
           By Chet Yarbrough

(Blog:awalkingdelight)
 Website: chetyarbrough.blog

The Retreat of Western Liberalism

By: Edward Luce

Narrated by: Julian Eifer

Edward Luce (Author, English journalist, Financial Times columnist and US commentator.)

Edward Luce offers a troubling picture of 21s century America.    His argument depends on one’s definition of “…Western Liberalism”.  If the definition is belief in human individuality and a relaxation of public custom, law, and authority, there is evidence to support Luce’s argument. 

Luce notes the election of Donald Trump is not an American aberration but a symptom of “The Retreat of Western Liberalism”.

The advent of the internet has reinforced a group think driven by belief in alternative facts that create conspiracy theories.  It is a discontent coming from many Americans ignored by rising wealth of a nation controlled by special interests.  Trump taps into that discontent.   

The irony of Trump’s rise is his personal wealth when the American gap between rich and poor is skyrocketing.  Putting that irony aside, Trump suggests America can be “Great Again” by returning to a past.

Trump creates a false hope of re-industrializing America with new jobs. The falseness of Trump’s pitch is that new jobs in America are not being created by industrialization but by technology and human services.  Trump’s appeal is loaded with false representations, amplified by media trolls.  Public custom, law, and authority are undermined by conspiracy theories that convince Americans they have been cheated out of their fair share of America’s wealth.  In truth, they have, and that is why Trump’s false pitch about “Making America Great Again” got him elected.

Trump’s anti-immigrant falsehoods feed conspiracy theories about jobs being taken from poor Americans.  Equal opportunity is a function of rising wealth in the hands of the few.  Public education and health care are unequally distributed in America.  The wealthy can afford higher education and the best health care, the poor cannot. 

Americans are poor because they are being denied equal opportunity, not because of immigration. 

Education and health care are critical for American labor’s adjustment to a changing world.  Private industry and the government have equal responsibility for assisting all Americans, not just those who have benefited from the technological revolution.

Job transition requires re-education and on-job training by employers that offer decent wages and health care. 

Luce’s point is a “rising tide has not lifted all boats”.  The technological revolution offers the same potential for western liberalism as the industrial revolution.  The election of Donald Trump was America’s “wake up” call. 

A large part of America’s population has been left out of the American Dream of western liberalism that came from opportunities provided by the industrial revolution. 

Western liberalism needs to be reinvented by investment in a technological revolution for all Americans, not just those who have benefited from the industrial revolution.  The question is whether private industry and the government are up to the task.  Will western liberalism be reinvented and promoted by ossified industrial leaders and elected representatives?  Most industry leaders and elected representatives are satisfied with the status quo while too many Americans struggle to make mortgage or rent payments.  Luce defines the problem but offers no solution.

SCIENTISTS VIEW OF AI

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Making Sense: Conversations on Consciousness, Morality, and the Future of Humanity

By: Sam Harris

                                                                  Narrated by : Sam Harris,  David Chalmers, David Deutsch, Anil Seth, Thomas Metzinger, Timothy Snyder, Glenn C. Loury, Robert Sapolsky, Daniel Kahneman, Nick Bostrom, David Krakauer, Max Tegmark.

Sam Harris (American author, philosopher, neuroscientist, and podcast host.)

This audio presentation is a series of podcast interviews by Sam Harris of some remarkable students of humanity.  They discuss the meaning of morality, consciousness, and the future.  Listeners will come away with a degree of wonder, appreciation, and hopefully understanding of what these men (sadly no women) say about human intelligence, A.I., and the future.

Three explained points of view can be taken to work tomorrow morning–1) Human intelligence is not adequately represented by I.Q. tests.  2) Interviews of prospective candidates for a job will not tell an employer how well a prospective candidate will do his/her job.  3) Machines can be programed to be more efficient and less error prone than humans in the production of goods and services.

Less immediate but more consequential points of view are–A) The advance of artificial intelligence has potential for both good and evil, a secular rather than religious morality to these scientists. B) Leadership in A.I. is critical to the future of humanity.  C) The future of work is indeterminate but is based on the physics of existence. 

1) Intelligence comes from a brain gathering information and experience and using that gathering to provide order to thought nd action.  An I.Q. number is a measurement with limited insight to one’s ordered thoughts and actions.

2) Job applicant interviews tells little about a candidate’s ability to think and act based on the needs of a job.  Experience in similar jobs is of some value but interviews only reinforce an interviewer’s prejudices and biases.

3) Machines can be programed to be more efficient and less error prone than humans in the production of goods and services.

  • A) Intelligence comes from sentient life gathering information and experience to inform thought and action. A.I. designed to only act without thought is not intelligent.  It is simply software for a machine designed to perform a task, like vacuuming the floor, turning a lathe, or assembling an automobile.  Intelligence in those performances only come from human supervisors.  The only good or evil in that circumstance is from the human supervisor.  

The advance of artificial intelligence has potential for both good and evil. 

In contrast, when a machine is programmed to gather all information available in its environment and acts in accordance with that environment, it begins to reach beyond the intelligence of human control.  A machine acquires some level of control over its own thought and action.  The consequence can be death in the case of a car driven by A.I.  On the other hand, accidents also occur with human drivers.  What is the difference? 

Self Driving Tesla car wreck causing a deadly crash.

The difference is that true A.I. will learn from past incidents and self-correct.  This is a first step to creation of thought and action for intelligent machines.  In the short term, in the case of automobiles, it benefits society by having fewer accidents.  In the long term, software programing that gathers information and acts, independent of humans, may give rise to a conscious “self” in machines that could replicate themselves to the point of a kind of evolution that mirrors human nature’s gene replication.  Neither the private nor public sector is adequately investing in safety when new A.I. products are created. 

Expressed concern in these interviews is that little is being spent by either the private or public sector to design safety into software development.  The evidence of that failure is criminal hacking. Not enough investment is made to secure private information when proprietary information or software is stolen and/or modified by criminals.

There is a brief allusion to the idea of melding man and machine but no discussion of the ramification of a machine equipped with human emotion.  Humans have historically killed each other.  That ability may only be enhanced by melding a human brain with a machine.  The black box of consciousness and the mechanics of consciousness are not revealed in these interviews.    

It appears these podcast interviews were either prior to the idea of cortical columns in the brain noted by Jeff Hawkins (a neuroscience engineer) who wrote “The Thousand Brains”.   Or, the scientists who are interviewed by Harris do not believe Hawkins’ experimental proof is convincing.  

An optimistic view struck by Max Tegmark suggests there is potential for abundance created through development of A.I.  Humans have squandered much of the world’s resources that could be better managed by A.I.  The need for human work could be exchanged for life’s enjoyment if A.I. were safely employed to balance human life with natural resources of the world.

  •  B) A.I. leadership is at a critical juncture.  Software development needs to include more investment in transparency and safety.  Boundaries must be defined and established to mitigate potential for conflict between human intelligence and machine intelligence.  There is a human as well as machine threat of authoritarianism without investment in software transparency and boundary imposition.
  • C) History shows the future is indeterminate.  The hope is that human thought and action will mitigate Luddite-like resistance to the productive potential of A.I.  Leadership knowledge and experience when an evolving technology requires equal investment in transparency and safety in the growth of A.I.  Without leadership, the potential for a dystopian future, wrought by technology and the fundamental physics of life, becomes as likely as its opposite.

Leadership in A.I. is critical to the future of humanity. 

Future prediction is an oxymoron, as evidenced by the history of change in agriculture and the industrial revolution. No one can reliably foresee the impact of A.I. on humanity. The future of A.I. is like God to Kierkegaard, humanity waits with fear and trembling.

This is only a cursory and inadequate review of Harris’s fascinating interviews of fellow scientists.   

MEDIA TROLLS

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Antisocial Online Extremists, Techno-Utopians, and the Hijacking of the American Conversation

By: Andrew Marantz

Narrated by Andrew Marantz

Andrew Marantz (American author, staff writer for The New Yorker magazine)

Marantz researches social media trolls in his book “Antisocial”.

For those who are not familiar with the meaning of #media Trolls, they are people who use the internet to create, no matter what, discord by writing or saying something false and misleading.

Of course, what is said in the media does not have to be true.  The difference is, the measure of success on the internet is an increase in the number of clicks one receives and the number of follower’s gob smacked by the messenger.  It has zero to do with truth.

The internet lists 8 of the greatest internet trolls of all time.  Their media names, like QAnon, are irrelevant but their duped followers are legion.  All hide behind the rubric of a free press.  

What makes internet trolls a societal cancer is their distortion of truth.  Internet trolls are a societal cancer. Some trolls believe “buyer beware”. To a troll, the truth of speech is the responsibility of the individual. Separating the truth from a lie becomes an uninformed public’s responsibility.

A troll feels no compunction for lying, misleading, or stretching the truth.  A committed troll argues that everyone should have the choice to believe or not believe.

With the Communications Decency Act passed by Congress in 1996, Section 230 protects free expression on the internet. The consequence of that Act is under advisement by Congress because it protects malicious purveyors of lies from prosecution. As noted by columnist Christopher Mims, it is a problem with no clear solution.

Trolls argue truth is fungible because of inherent bias in the messenger.  At best, trolls view their role is to mitigate corporate and government brain washing; at worst, they create a forum for massing hate and discrimination.

Say anything is the terrifying thing about social media.  The irony of America’s free speech is its only defense is free speech. 

Marantz interviews numerous trolls that believe all media communication is good, or at least useful communication.  Marantz explains trolls argue media has historically distorted the truth. 

Marantz notes the fallacy of the Troll’s argument is in the release of white supremacist and hate-filled speech that aims at changing the norms of society.

Trolls say the unsayable for wealth and notoriety; not for the betterment of humanity, or the search for truth. 

White supremacy becomes a flag around which a small minority of society can join to become a political force. 

The risk to the American electorate from media trolls is that they create a disillusioned and apathetic public that doesn’t know who or what to believe.

In the book “1984” Orwell showed how media control is dangerous. Marantz shows how no control is equally dangerous; particularly in the internet era. 

Marantz makes listeners realize how dangerous internet trolls are to America, and any nation trying to improve the quality of life for their citizens. 

Twenty first century American democracy seems particularly at risk.  Americans believe in the critical importance of freedom, but American freedom has always been qualified by rule of law in “doing no harm” to others. 

The infancy of the internet needs regulation.  The government must fight the hijacking of the American electorate by internet trolls.  The internet is driven more by popularity and money than morality and truth.

Marantz convinces a listener that American freedom of speech is not a license for anarchy.

2 + 2 Makes 5

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

1984


By George Orwell

Narrated by Simon Prebble

George Orwell (1903-1950, Author born in India, a British Citizen)

Orwell published “1984” in 1949.  Orwell’s vision of totalitarianism, technology, and thought-control match today’s fears and failures in America.

Technology (then and now) is a threat to everyone’s privacy and self-determination.However, technology has a much wider; more intrusive role today than in 1949

Advances in social media through Facebook, Twitter, LinkedIn, and others–with the help of Google, Amazon, and Apple, are encroaching on everyone’s right to privacy and personal thought.

Jingoism, war threats, and propaganda fill newspapers, television reports, and the Internet to influence and manipulate indigenous and exogenous populations. 

7/31/2019-China blames America for Hong Kong demonstrations.

American, Chinese, Iranian, Syrian, Russian and Turkish governments tell the world that their internal turmoil is caused by outside influences.

Truth is hidden by Trump’s divisive diversions and subversions. Trump’s dishonest attack on Georgia’s election process is his latest diversion and subversion of American Democracy.

The Republican party can look to Trump to find why Georgia is now represented by two Democrats in the Senate.

Trump and Erdogan are masters of this art. As Lord Acton noted: Power corrupts and absolute power corrupts absolutely.

Today, it is gangster-ism in Ukraine; yesterday it was abandoning Kurdish allies who fought by the side of Americans in Syria; and today it is “don’t be afraid of Covid19” or Erdogan’s intervention in Armenia.

History reveals murders, imprisonment, and rigged elections caused by malignant use of the internet. Though the victim/hero of “1984” is tortured to say “2 + 2 make 5”, the use of the internet gives forum to lies and hate that make the unwary believe “2 + 2 makes 5”.

Putin’s domination of the media in Russia is quintessential Orwellian disinformation. From saying he is defending the homeland to comparing Ukraine leadership to Nazi Germany, Putin distorts the truth of his personal ambition.

Orwell’s vision of totalitarianism and population indoctrination in “1984” is more direct than today’s media manipulations. Google argues that search-engine’ clicks are meant to customize consumer searches for information, but how far is that from thought control?

The inherent subtlety of social media seduces rather than tortures people into thinking in a particular way. 

People are killed by media manipulation of the truth. Media manipulations cause conflict, but rarely cause death on a mass scale.  (Of course, it is a mass scale to the mother, father, grandparent, sibling or friend who loses someone they love.) Orwell is saying there are no ideological differences between a media-manufactured war and a real war when people die.  Is the American government out of control?

Ukrainian Airlines Crash from Iranian missile launch mistake

Orwell points to media-manufactured wars that are not really wars between nation-states. Thought diversions and public-conflict misinformation spread by the government and the media make indigenous populations endorse, obey, and follow their leaders.

Now we have the economic and health threat of Covid19. What measures must be taken to mitigate the economic destruction and death that it causes? Where is the line drawn between autocratic rule and democracy? With a President acting as king, are America’s “checks and balances” strong enough to protect volitional rights?

With arbitrary hiring and firing of critical government administrators there is reason to doubt more economic destruction and death are not inevitable.

Add private sector big data use to government sector misinformation, and individuals lose both privacy and independence.

Acquisition of nuclear weapons to foment a war is a fiction. It is a fiction designed to manipulate public opinion.

The concern over nuclear proliferation is about fear of mistakes and nuclear accidents; not nuclear war.

This is not to say nuclear proliferation is not a danger to the world. It is a danger, but more because of its use as a political weapon than a tool of war.

The fact is, nuclear accidents occur; for example, Russia’s recent nuclear-weapon’s failure in August 2019.

Iran and North Korea incite their people to expand nuclear weaponry to gain status in the world. It is not an irrational move in the real politic of public affairs. A former Israeli spy master (Meir Dagan) noted on national television that Iran’s government officials are rational; mutual nuclear destruction is not rational.

Orwell characterizes nation-state populations as three tiered; e.g. upper, middle, and lower.  The upper class conception is a ruling class that controls a nation; the middle class strives to become a part of the upper class, and the lower class (estimated at 25% in the U.S.) is suppressed by both the upper and middle class to maintain the three tiered structure. 

Orwell suggests the upper class becomes a kind of collective with a particular ideology that usurps capitalist ambition by trading wealth for collective power. This is the concern one has over the widening gap between rich and poor.

Piketty argues that the income gap widens once again, after World War II.  He estimates 60% of 2010’s wealth is held by less than 1% of the population; with a lean toward the historical 90% threshold. 

One might say that the “collective” concept has more relevance in a socialist country but money is power in America so Orwell’s upper class definition is equally relevant in a largely capitalist country.   The difference is a matter of degree; i.e. rather than an oligarchy of socialists, America has an oligarchy of wealthy corporations and multi-millionaires.

Today’s Moneyocracy is the upper class described in “1984” and the “Occupy Wall Street” protesters are Orwell’s revolutionary hero/victims

A striking parallel between Orwell’s “1984” and today is western culture’s 21st century “Occupy Wall Street” movement.  The “Occupy Wall Street” movement has protesters but they cannot articulate actions that can practically actualize their revolution.

All revolutionaries cannot be subverted, imprisoned, or murdered. One might argue Orwell’s “1984” torture of revolutionaries is being replaced by corporate use of private data and government propaganda to achieve the same purpose.

Orwell is as prescient today as he was in 1949.