Every day, corporations are connecting the dots about our personal
behavior-silently scrutinizing clues left behind by our work habits
and Internet use. The data compiled and portraits created are
incredibly detailed, to the point of being invasive. But who
connects the dots about what firms are doing with this information?
The Black Box Society argues that we all need to be able to do
so-and to set limits on how big data affects our lives. Hidden
algorithms can make (or ruin) reputations, decide the destiny of
entrepreneurs, or even devastate an entire economy. Shrouded in
secrecy and complexity, decisions at major Silicon Valley and Wall
Street firms were long assumed to be neutral and technical. But
leaks, whistleblowers, and legal disputes have shed new light on
automated judgment. Self-serving and reckless behavior is
surprisingly common, and easy to hide in code protected by legal
and real secrecy. Even after billions of dollars of fines have been
levied, underfunded regulators may have only scratched the surface
of this troubling behavior. Frank Pasquale exposes how powerful
interests abuse secrecy for profit and explains ways to rein them
in. Demanding transparency is only the first step. An intelligible
society would assure that key decisions of its most important firms
are fair, nondiscriminatory, and open to criticism. Silicon Valley
and Wall Street need to accept as much accountability as they
impose on others.
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