Yue Chim Richard Wong
- Published in print:
- 2017
- Published Online:
- January 2018
- ISBN:
- 9789888390625
- eISBN:
- 9789888390373
- Item type:
- chapter
- Publisher:
- Hong Kong University Press
- DOI:
- 10.5790/hongkong/9789888390625.003.0029
- Subject:
- Economics and Finance, Public and Welfare
Many today believe the world has entered the Third Industrial Age, during which technological improvements in robotics and automation will boost productivity and efficiency, implying significant ...
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Many today believe the world has entered the Third Industrial Age, during which technological improvements in robotics and automation will boost productivity and efficiency, implying significant gains for companies. These advancements have three biases: they tend to be capital-intensive (favoring those with financial resources), skill-intensive (favoring those with a high level of technical proficiency), and labor saving (reducing the total number of unskilled and semi-skilled jobs). The pundits speculate the economic impact on the job market will be significant and will present serious social and political challenges for society in growing inequality and the provision of safety nets to mitigate the consequences of disruptive technological progress. History has shown capitalist markets and business enterprises are incredibly efficient at turning technological advances into profitable businesses and providing incentives to discover new technologies. They succeed because companies that compete successfully with each other to provide benefits for clients are rewarded handsomely.Less
Many today believe the world has entered the Third Industrial Age, during which technological improvements in robotics and automation will boost productivity and efficiency, implying significant gains for companies. These advancements have three biases: they tend to be capital-intensive (favoring those with financial resources), skill-intensive (favoring those with a high level of technical proficiency), and labor saving (reducing the total number of unskilled and semi-skilled jobs). The pundits speculate the economic impact on the job market will be significant and will present serious social and political challenges for society in growing inequality and the provision of safety nets to mitigate the consequences of disruptive technological progress. History has shown capitalist markets and business enterprises are incredibly efficient at turning technological advances into profitable businesses and providing incentives to discover new technologies. They succeed because companies that compete successfully with each other to provide benefits for clients are rewarded handsomely.
Nayan B. Ruparelia
- Published in print:
- 2016
- Published Online:
- September 2016
- ISBN:
- 9780262529099
- eISBN:
- 9780262334129
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262529099.003.0012
- Subject:
- Computer Science, Programming
This chapter discusses some economic, moral, and social issues that technology, IT, and especially cloud computing bring up. Many of these issues are intractable, and this chapter’s objective is to ...
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This chapter discusses some economic, moral, and social issues that technology, IT, and especially cloud computing bring up. Many of these issues are intractable, and this chapter’s objective is to inform you of the role that technology is playing in shaping our society and world. In particular, the following topics are outlined: tool for democracy; the rich-poor gap; personal information and security; productivity; business scalability.Less
This chapter discusses some economic, moral, and social issues that technology, IT, and especially cloud computing bring up. Many of these issues are intractable, and this chapter’s objective is to inform you of the role that technology is playing in shaping our society and world. In particular, the following topics are outlined: tool for democracy; the rich-poor gap; personal information and security; productivity; business scalability.
Daniel J. Clark
- Published in print:
- 2018
- Published Online:
- May 2019
- ISBN:
- 9780252042010
- eISBN:
- 9780252050756
- Item type:
- chapter
- Publisher:
- University of Illinois Press
- DOI:
- 10.5622/illinois/9780252042010.003.0006
- Subject:
- Sociology, Social Movements and Social Change
During the 1954 recession, tens of thousands of Detroit autoworkers experienced prolonged layoffs and relied on unemployment pay and secondary jobs. Industry officials and civic leaders denied that ...
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During the 1954 recession, tens of thousands of Detroit autoworkers experienced prolonged layoffs and relied on unemployment pay and secondary jobs. Industry officials and civic leaders denied that there was a recession, blamed any problems on negative thinking, and tried to convince the public that volatility in the auto industry was normal and of no great concern. Many Detroiters blamed working women and southern white migrants for high unemployment. Automation contributed to joblessness, while some UAW skilled workers benefited from building the new machinery. The demise of independent automakers and local auto suppliers resulted in thousands of additional lost jobs. While many autoworkers returned to work late in the year, most remained concerned about how long the upswing would last.Less
During the 1954 recession, tens of thousands of Detroit autoworkers experienced prolonged layoffs and relied on unemployment pay and secondary jobs. Industry officials and civic leaders denied that there was a recession, blamed any problems on negative thinking, and tried to convince the public that volatility in the auto industry was normal and of no great concern. Many Detroiters blamed working women and southern white migrants for high unemployment. Automation contributed to joblessness, while some UAW skilled workers benefited from building the new machinery. The demise of independent automakers and local auto suppliers resulted in thousands of additional lost jobs. While many autoworkers returned to work late in the year, most remained concerned about how long the upswing would last.
Nayan B. Ruparelia
- Published in print:
- 2016
- Published Online:
- September 2016
- ISBN:
- 9780262529099
- eISBN:
- 9780262334129
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262529099.003.0003
- Subject:
- Computer Science, Programming
This chapter addresses the following questions: Why cloud computing? What is so special about cloud computing? How will it affect you, your work, and our society? Just as Microsoft Windows became ...
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This chapter addresses the following questions: Why cloud computing? What is so special about cloud computing? How will it affect you, your work, and our society? Just as Microsoft Windows became ubiquitous at home and work, and changed our lives, cloud computing represents a paradigm shift. This is because cloud computing is an enabling technology that bypasses many functions provided by your computer, the software installedon it, your workplace’s IT and finance departments, businesses and government departments. Cloud computing’s paradigm shift is considered from three different viewpoints: (1) how it should affect you socially and personally, (2) how it will affect you in your work, and (3) how it will affect businesses.The personal paradigm shift viewpoint is extended using a novel concept: a cloud of things and services. Such a cloud serves an internet-of-things device and, by the application of service automation, it further provides related services on a personal basis. The combination of a cloud of things and a process-as-a-service deployment model culminates in a Cloud of Things and Services (COTS).Less
This chapter addresses the following questions: Why cloud computing? What is so special about cloud computing? How will it affect you, your work, and our society? Just as Microsoft Windows became ubiquitous at home and work, and changed our lives, cloud computing represents a paradigm shift. This is because cloud computing is an enabling technology that bypasses many functions provided by your computer, the software installedon it, your workplace’s IT and finance departments, businesses and government departments. Cloud computing’s paradigm shift is considered from three different viewpoints: (1) how it should affect you socially and personally, (2) how it will affect you in your work, and (3) how it will affect businesses.The personal paradigm shift viewpoint is extended using a novel concept: a cloud of things and services. Such a cloud serves an internet-of-things device and, by the application of service automation, it further provides related services on a personal basis. The combination of a cloud of things and a process-as-a-service deployment model culminates in a Cloud of Things and Services (COTS).
Benjamin H. Bratton
- Published in print:
- 2016
- Published Online:
- September 2016
- ISBN:
- 9780262029575
- eISBN:
- 9780262330183
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262029575.003.0010
- Subject:
- Society and Culture, Cultural Studies
Stack architectures are designed to be remade. Each modular layer can contain any technology able to communicate with the layer above and below it. This chapter examines not the Stack-we-have but the ...
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Stack architectures are designed to be remade. Each modular layer can contain any technology able to communicate with the layer above and below it. This chapter examines not the Stack-we-have but the Stack-to-come. It considers possible futures for each of the six layers, recognizing both the potential and the risks that each may bring. As each layer is considered in relation to its own potential accidents, as The Stack as a whole is a composite accident. Some scenarios suggest further ecological calamity, Cloud Feudalism, and revitalized political theological fundamentalisms. Others may suggest instead robust ecological polities, rationalized algorithmic governance, and a vibrant proliferation of human and non-human agents. Whether the latter wins out over the former depends on how well we cope with the Copernican traumas of planetary-scale computation.Less
Stack architectures are designed to be remade. Each modular layer can contain any technology able to communicate with the layer above and below it. This chapter examines not the Stack-we-have but the Stack-to-come. It considers possible futures for each of the six layers, recognizing both the potential and the risks that each may bring. As each layer is considered in relation to its own potential accidents, as The Stack as a whole is a composite accident. Some scenarios suggest further ecological calamity, Cloud Feudalism, and revitalized political theological fundamentalisms. Others may suggest instead robust ecological polities, rationalized algorithmic governance, and a vibrant proliferation of human and non-human agents. Whether the latter wins out over the former depends on how well we cope with the Copernican traumas of planetary-scale computation.
Bernardo Bátiz-Lazo
- Published in print:
- 2017
- Published Online:
- January 2018
- ISBN:
- 9780262035750
- eISBN:
- 9780262338332
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262035750.003.0016
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter investigates the history of the ubiquitous yet banal Automated Teller Machine, or ATM. There is no single inventor of the ATM. Rather, it emerged through innovation around the globe and ...
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This chapter investigates the history of the ubiquitous yet banal Automated Teller Machine, or ATM. There is no single inventor of the ATM. Rather, it emerged through innovation around the globe and across the industry. In order to build a successful ATM system, engineers and bankers had to overcome challenges that ranged from security and authorization to weather-proofing electronics. This chapter surveys some of those developments. Increasingly, ATMs are being designed to offer a variety of services beyond dispensing cash. In the future, the ATM may prove to an important site of automated retail banking and consumer financial services.Less
This chapter investigates the history of the ubiquitous yet banal Automated Teller Machine, or ATM. There is no single inventor of the ATM. Rather, it emerged through innovation around the globe and across the industry. In order to build a successful ATM system, engineers and bankers had to overcome challenges that ranged from security and authorization to weather-proofing electronics. This chapter surveys some of those developments. Increasingly, ATMs are being designed to offer a variety of services beyond dispensing cash. In the future, the ATM may prove to an important site of automated retail banking and consumer financial services.
Onnig H. Dombalagian
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9780262028622
- eISBN:
- 9780262324298
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262028622.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book surveys the law and policy of regulating information flows in capital markets. Part I begins with an overview of the themes, regulatory principles, and challenges that animate information ...
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This book surveys the law and policy of regulating information flows in capital markets. Part I begins with an overview of the themes, regulatory principles, and challenges that animate information policy, and describes the principal industry, self-regulatory, and regulatory bodies that participate in the governance of information flows in capital markets. Part I further surveys four categories of information in the information production chain: corporate disclosures, quotation and transaction information, information used in credit analysis, and benchmarks. The book discusses how each category of information is generated and used and the reasons why regulators seek to intervene in its production or use. It also provides a summary of the relevant framework for securities regulation in the United States, European Union, and other jurisdictions. Part II articulates several objectives of information policy in capital markets—ensuring transparency and access, promoting standardization and higher orders of meaning, and upholding integrity. This Part considers how regulatory aims differ by category and surveys alternative regulatory strategies, often with a view to replacing relatively inflexible regulatory frameworks with more flexible market mechanisms. Part III considers three specific challenges to capital markets regulation—automation, information overload or anxiety, and globalization—and how they affect the utility, integrity, and availability of information flows. This Part assesses the strategies by which policy makers have confronted these challenges, and offers some concluding thoughts on the implications of these phenomena for financial regulation and information policy.Less
This book surveys the law and policy of regulating information flows in capital markets. Part I begins with an overview of the themes, regulatory principles, and challenges that animate information policy, and describes the principal industry, self-regulatory, and regulatory bodies that participate in the governance of information flows in capital markets. Part I further surveys four categories of information in the information production chain: corporate disclosures, quotation and transaction information, information used in credit analysis, and benchmarks. The book discusses how each category of information is generated and used and the reasons why regulators seek to intervene in its production or use. It also provides a summary of the relevant framework for securities regulation in the United States, European Union, and other jurisdictions. Part II articulates several objectives of information policy in capital markets—ensuring transparency and access, promoting standardization and higher orders of meaning, and upholding integrity. This Part considers how regulatory aims differ by category and surveys alternative regulatory strategies, often with a view to replacing relatively inflexible regulatory frameworks with more flexible market mechanisms. Part III considers three specific challenges to capital markets regulation—automation, information overload or anxiety, and globalization—and how they affect the utility, integrity, and availability of information flows. This Part assesses the strategies by which policy makers have confronted these challenges, and offers some concluding thoughts on the implications of these phenomena for financial regulation and information policy.
Benjamin H. Bratton
- Published in print:
- 2016
- Published Online:
- September 2016
- ISBN:
- 9780262029575
- eISBN:
- 9780262330183
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262029575.003.0009
- Subject:
- Society and Culture, Cultural Studies
This chapter discusses the sixth and top layer in The Stack, the User layer. It describes how Users initiate chains of interaction up and down layers, from Interface to Earth and back again. It sees ...
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This chapter discusses the sixth and top layer in The Stack, the User layer. It describes how Users initiate chains of interaction up and down layers, from Interface to Earth and back again. It sees the “user” as a contemporary mediated image of the self, one that is often reduced to narrow and utilitarian frames, but also open to a diverse variety of possible human and non-human agencies. The user position can both over-individuate that agent’s sense of self and also radically multiply it. For example, data generated by Users and producing traces and shadows of their worldly transactions, initially creates a high-resolution portrait of a single user (for example as seen in the Quantified Self movement) but as overlapping external data streams are introduced, the coherency the user’s subjectivity is dissolved by the overdetermination by external relations and forces. Any durable politics of the User must understand this dynamic of platform sovereignty.Less
This chapter discusses the sixth and top layer in The Stack, the User layer. It describes how Users initiate chains of interaction up and down layers, from Interface to Earth and back again. It sees the “user” as a contemporary mediated image of the self, one that is often reduced to narrow and utilitarian frames, but also open to a diverse variety of possible human and non-human agencies. The user position can both over-individuate that agent’s sense of self and also radically multiply it. For example, data generated by Users and producing traces and shadows of their worldly transactions, initially creates a high-resolution portrait of a single user (for example as seen in the Quantified Self movement) but as overlapping external data streams are introduced, the coherency the user’s subjectivity is dissolved by the overdetermination by external relations and forces. Any durable politics of the User must understand this dynamic of platform sovereignty.
Ryan Bishop
- Published in print:
- 2013
- Published Online:
- September 2013
- ISBN:
- 9780748643073
- eISBN:
- 9780748689071
- Item type:
- chapter
- Publisher:
- Edinburgh University Press
- DOI:
- 10.3366/edinburgh/9780748643073.003.0001
- Subject:
- Film, Television and Radio, Film
This chapter introduces many of the main themes and ideas for the rest of the book, especially the role of cinema in the emergence of visual technology’s specific ascendancy during the twentieth ...
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This chapter introduces many of the main themes and ideas for the rest of the book, especially the role of cinema in the emergence of visual technology’s specific ascendancy during the twentieth century, and cinema’s reflexive engagement with visual culture and the various scopic regimes and tech- nologies that constitute it. The chapter includes discussions of autotechnological education, the changing status of the image, and early animation while addressing several theorists central to the book and contextualizing it within extant work on cinematic comedy. The material (technological, exis- tential, sensory) and immaterial (ideological, conceptual, systemic) roles played by cinema writ large, and the inevitable but not necessarily predictable disruption of their functioning (the comic), are identified as the main ares of inquiry.Less
This chapter introduces many of the main themes and ideas for the rest of the book, especially the role of cinema in the emergence of visual technology’s specific ascendancy during the twentieth century, and cinema’s reflexive engagement with visual culture and the various scopic regimes and tech- nologies that constitute it. The chapter includes discussions of autotechnological education, the changing status of the image, and early animation while addressing several theorists central to the book and contextualizing it within extant work on cinematic comedy. The material (technological, exis- tential, sensory) and immaterial (ideological, conceptual, systemic) roles played by cinema writ large, and the inevitable but not necessarily predictable disruption of their functioning (the comic), are identified as the main ares of inquiry.
Onnig H. Dombalagian
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9780262028622
- eISBN:
- 9780262324298
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262028622.003.0011
- Subject:
- Economics and Finance, Financial Economics
This chapter considers the challenges that the automation of trading poses to the regulation of capital markets. It first discusses recent advances in information technology with respect to order ...
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This chapter considers the challenges that the automation of trading poses to the regulation of capital markets. It first discusses recent advances in information technology with respect to order execution, generation and routing, as well as the rise of high-frequency trading and other algorithmic trading strategies. It then considers their consequences for the efficiency, liquidity, and integrity of capital markets, as well as their impact on the regulation of and fair access to various information flows. The chapter then critiques policy proposals for regulating automation that aim to suppress deleterious trading (such as financial transaction taxes) or limit its negative externalities. The chapter ends with an assessment of how policy makers might adapt to automation through policies that promote fair disclosure and flexible access to information flows.Less
This chapter considers the challenges that the automation of trading poses to the regulation of capital markets. It first discusses recent advances in information technology with respect to order execution, generation and routing, as well as the rise of high-frequency trading and other algorithmic trading strategies. It then considers their consequences for the efficiency, liquidity, and integrity of capital markets, as well as their impact on the regulation of and fair access to various information flows. The chapter then critiques policy proposals for regulating automation that aim to suppress deleterious trading (such as financial transaction taxes) or limit its negative externalities. The chapter ends with an assessment of how policy makers might adapt to automation through policies that promote fair disclosure and flexible access to information flows.
Jesse LeCavalier
- Published in print:
- 2016
- Published Online:
- May 2017
- ISBN:
- 9780816693313
- eISBN:
- 9781452955360
- Item type:
- chapter
- Publisher:
- University of Minnesota Press
- DOI:
- 10.5749/minnesota/9780816693313.003.0004
- Subject:
- Architecture, Architectural Theory and Criticism
The third chapter inspects both the automation of city making and the geo-political possibilities of architecture itself by first tracing Walmart’s increasingly technologically sophisticated location ...
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The third chapter inspects both the automation of city making and the geo-political possibilities of architecture itself by first tracing Walmart’s increasingly technologically sophisticated location strategies. Afterwards, it examines what happens to those strategies in practice.Less
The third chapter inspects both the automation of city making and the geo-political possibilities of architecture itself by first tracing Walmart’s increasingly technologically sophisticated location strategies. Afterwards, it examines what happens to those strategies in practice.
