Technologies of Speculation

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Author :
Publisher : NYU Press
ISBN 13 : 1479802107
Total Pages : 282 pages
Book Rating : 4.4/5 (798 download)

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Book Synopsis Technologies of Speculation by : Sun-ha Hong

Download or read book Technologies of Speculation written by Sun-ha Hong and published by NYU Press. This book was released on 2020-07-28 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inquiry into what we can know in an age of surveillance and algorithms Knitting together contemporary technologies of datafication to reveal a broader, underlying shift in what counts as knowledge, Technologies of Speculation reframes today’s major moral and political controversies around algorithms and artificial intelligence. How many times we toss and turn in our sleep, our voluminous social media activity and location data, our average resting heart rate and body temperature: new technologies of state and self-surveillance promise to re-enlighten the black boxes of our bodies and minds. But Sun-ha Hong suggests that the burden to know and to digest this information at alarming rates is stripping away the liberal subject that ‘knows for themselves’, and risks undermining the pursuit of a rational public. What we choose to track, and what kind of data is extracted from us, shapes a society in which my own experience and sensation is increasingly overruled by data-driven systems. From the rapidly growing Quantified Self community to large-scale dragnet data collection in the name of counter-terrorism and drone warfare, Hong argues that data’s promise of objective truth results in new cultures of speculation. In his analysis of the Snowden affair, Hong demonstrates an entirely new way of thinking through what we could know, and the political and philosophical stakes of the belief that data equates to knowledge. When we simply cannot process all the data at our fingertips, he argues, we look past the inconvenient and the complicated to favor the comprehensible. In the process, racial stereotypes and other longstanding prejudices re-enter our newest technologies by the back door. Hong reveals the moral and philosophical equations embedded into the algorithmic eye that now follows us all.

Technologies of Speculation

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Author :
Publisher : NYU Press
ISBN 13 : 1479860239
Total Pages : 293 pages
Book Rating : 4.4/5 (798 download)

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Book Synopsis Technologies of Speculation by : Sun-ha Hong

Download or read book Technologies of Speculation written by Sun-ha Hong and published by NYU Press. This book was released on 2020-07-28 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inquiry into what we can know in an age of surveillance and algorithms Knitting together contemporary technologies of datafication to reveal a broader, underlying shift in what counts as knowledge, Technologies of Speculation reframes today’s major moral and political controversies around algorithms and artificial intelligence. How many times we toss and turn in our sleep, our voluminous social media activity and location data, our average resting heart rate and body temperature: new technologies of state and self-surveillance promise to re-enlighten the black boxes of our bodies and minds. But Sun-ha Hong suggests that the burden to know and to digest this information at alarming rates is stripping away the liberal subject that ‘knows for themselves’, and risks undermining the pursuit of a rational public. What we choose to track, and what kind of data is extracted from us, shapes a society in which my own experience and sensation is increasingly overruled by data-driven systems. From the rapidly growing Quantified Self community to large-scale dragnet data collection in the name of counter-terrorism and drone warfare, Hong argues that data’s promise of objective truth results in new cultures of speculation. In his analysis of the Snowden affair, Hong demonstrates an entirely new way of thinking through what we could know, and the political and philosophical stakes of the belief that data equates to knowledge. When we simply cannot process all the data at our fingertips, he argues, we look past the inconvenient and the complicated to favor the comprehensible. In the process, racial stereotypes and other longstanding prejudices re-enter our newest technologies by the back door. Hong reveals the moral and philosophical equations embedded into the algorithmic eye that now follows us all.

Technologies of Speculation

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Author :
Publisher : NYU Press
ISBN 13 : 1479860239
Total Pages : 293 pages
Book Rating : 4.4/5 (798 download)

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Book Synopsis Technologies of Speculation by : Sun-ha Hong

Download or read book Technologies of Speculation written by Sun-ha Hong and published by NYU Press. This book was released on 2020-07-28 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inquiry into what we can know in an age of surveillance and algorithms Knitting together contemporary technologies of datafication to reveal a broader, underlying shift in what counts as knowledge, Technologies of Speculation reframes today’s major moral and political controversies around algorithms and artificial intelligence. How many times we toss and turn in our sleep, our voluminous social media activity and location data, our average resting heart rate and body temperature: new technologies of state and self-surveillance promise to re-enlighten the black boxes of our bodies and minds. But Sun-ha Hong suggests that the burden to know and to digest this information at alarming rates is stripping away the liberal subject that ‘knows for themselves’, and risks undermining the pursuit of a rational public. What we choose to track, and what kind of data is extracted from us, shapes a society in which my own experience and sensation is increasingly overruled by data-driven systems. From the rapidly growing Quantified Self community to large-scale dragnet data collection in the name of counter-terrorism and drone warfare, Hong argues that data’s promise of objective truth results in new cultures of speculation. In his analysis of the Snowden affair, Hong demonstrates an entirely new way of thinking through what we could know, and the political and philosophical stakes of the belief that data equates to knowledge. When we simply cannot process all the data at our fingertips, he argues, we look past the inconvenient and the complicated to favor the comprehensible. In the process, racial stereotypes and other longstanding prejudices re-enter our newest technologies by the back door. Hong reveals the moral and philosophical equations embedded into the algorithmic eye that now follows us all.

Speculation

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Author :
Publisher : Columbia University Press
ISBN 13 : 0231553498
Total Pages : 157 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Speculation by : Gayle Rogers

Download or read book Speculation written by Gayle Rogers and published by Columbia University Press. This book was released on 2021-07-06 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the modern world, why do we still resort to speculation? Advances in scientific and statistical reasoning are supposed to have provided greater certainty in making claims about the future. Yet we constantly spin out scenarios about tomorrow, for ourselves or for entire societies, with flimsy or no evidence. Insubstantial speculations—from utopian thinking to high-risk stock gambles—often provoke fierce backlash, even when they prove prophetic for the world we come to inhabit. Why does this hypothetical way of thinking generate such controversy? In this cultural, literary, and intellectual history, Gayle Rogers traces debates over speculation from antiquity to the present. Celebrated by Boethius as the height of humanity’s mental powers but denigrated as sinful by John Calvin, speculation eventually became central to the scientific revolution’s new methods of seeing the natural world. In the nineteenth century, writers such as Jane Austen used the concept to diagnose the marriage market, redefining speculation for the purpose of social critique. Speculation fueled the development of modern capitalism, spurring booms, busts, and bubbles, and recently artificial intelligence has automated the speculation previously done by humans, with uncertain and troubling consequences. Unraveling these histories and many other disputes, Rogers argues that what has always been at stake in arguments over speculation, and why it so often appears so threatening, is the authority to produce and control knowledge about the future. Recasting centuries of contests over the power to anticipate tomorrow, this book reveals the crucial role speculation has played in how we create—and potentially destroy—the future.

Rhetorical Speculations

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Author :
Publisher : University Press of Colorado
ISBN 13 : 1607328313
Total Pages : 321 pages
Book Rating : 4.6/5 (73 download)

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Book Synopsis Rhetorical Speculations by : Scott Sundvall

Download or read book Rhetorical Speculations written by Scott Sundvall and published by University Press of Colorado. This book was released on 2019-04-15 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of writing studies is fundamentally tied to advancing technological development—writing cannot be done without a technology and different technologies mediate writing differently. In Rhetorical Speculations, contributors engage with emerging technologies of composition through “speculative modeling” as a strategy for anticipatory, futural thinking for rhetoric and writing studies. Rhetoric and writing studies often engages technological shifts reactively, after the production and reception of rhetoric and writing has changed. This collection allows rhetoric and writing scholars to explore modes of critical speculation into the transformative effect of emerging technologies, particularly as a means to speculate on future shifts in the intellectual, pedagogical, and institutional frameworks of the field. In doing so, the project repositions rhetoric and writing scholars as proprietors of our technological future to come rather than as secondary receivers, critics, and adjusters of the technological present. Major and emerging voices in the field offer a range of styles that include pragmatic, technical, and philosophical approaches to the issue of speculative rhetoric, exploring what new media/writing studies could be—theoretically, pedagogically, and institutionally—as future technologies begin to impinge on the work of writing. Rhetorical Speculations is at the cutting edge of the subject of futures thinking and will have broad appeal to scholars of rhetoric, literacy, futures studies, and material and popular culture. Contributors: Bahareh Brittany Alaei, Sarah J. Arroyo, Kristine L. Blair, Geoffrey V. Carter, Sid Dobrin, Kristie S. Fleckenstein, Steve Holmes, Kyle Jensen, Halcyon Lawrence, Alexander Monea, Sean Morey, Alex Reid, Jeff Rice, Gregory L. Ulmer, Anna Worm

What Technology Wants

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Author :
Publisher : Penguin
ISBN 13 : 0143120174
Total Pages : 417 pages
Book Rating : 4.1/5 (431 download)

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Book Synopsis What Technology Wants by : Kevin Kelly

Download or read book What Technology Wants written by Kevin Kelly and published by Penguin. This book was released on 2011-09-27 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the author of the New York Times bestseller The Inevitable— a sweeping vision of technology as a living force that can expand our individual potential In this provocative book, one of today's most respected thinkers turns the conversation about technology on its head by viewing technology as a natural system, an extension of biological evolution. By mapping the behavior of life, we paradoxically get a glimpse at where technology is headed-or "what it wants." Kevin Kelly offers a dozen trajectories in the coming decades for this near-living system. And as we align ourselves with technology's agenda, we can capture its colossal potential. This visionary and optimistic book explores how technology gives our lives greater meaning and is a must-read for anyone curious about the future.

Race After Technology

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1509526439
Total Pages : 172 pages
Book Rating : 4.5/5 (95 download)

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Book Synopsis Race After Technology by : Ruha Benjamin

Download or read book Race After Technology written by Ruha Benjamin and published by John Wiley & Sons. This book was released on 2019-07-09 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: From everyday apps to complex algorithms, Ruha Benjamin cuts through tech-industry hype to understand how emerging technologies can reinforce White supremacy and deepen social inequity. Benjamin argues that automation, far from being a sinister story of racist programmers scheming on the dark web, has the potential to hide, speed up, and deepen discrimination while appearing neutral and even benevolent when compared to the racism of a previous era. Presenting the concept of the “New Jim Code,” she shows how a range of discriminatory designs encode inequity by explicitly amplifying racial hierarchies; by ignoring but thereby replicating social divisions; or by aiming to fix racial bias but ultimately doing quite the opposite. Moreover, she makes a compelling case for race itself as a kind of technology, designed to stratify and sanctify social injustice in the architecture of everyday life. This illuminating guide provides conceptual tools for decoding tech promises with sociologically informed skepticism. In doing so, it challenges us to question not only the technologies we are sold but also the ones we ourselves manufacture. Visit the book's free Discussion Guide here.

Practices of Speculation

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Publisher : transcript Verlag
ISBN 13 : 3839447518
Total Pages : 285 pages
Book Rating : 4.8/5 (394 download)

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Book Synopsis Practices of Speculation by : Jeanne Cortiel

Download or read book Practices of Speculation written by Jeanne Cortiel and published by transcript Verlag. This book was released on 2020-12-31 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers innovative ways to think about speculation at a time when anticipation of catastrophe in an apocalyptic mode is the order of the day and shapes public discourse on a global scale. It maps an interdisciplinary field of investigation: the chapters interrogate hegemonic ways of shaping the present through investments in the future, while also looking at speculative practices that reveal transformative potential. The twelve contributions explore concrete instances of envisioning the open unknown and affirmative speculative potentials in history, literature, comics, computer games, mold research, ecosystem science and artistic practice.

The Future of Technology

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Publisher : John Wiley & Sons
ISBN 13 : 9781861979711
Total Pages : 372 pages
Book Rating : 4.9/5 (797 download)

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Book Synopsis The Future of Technology by : Tom Standage

Download or read book The Future of Technology written by Tom Standage and published by John Wiley & Sons. This book was released on 2005-08-01 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the industrial revolution to the railway age, through the era of electrification, the advent of mass production, and finally to the information age, the same pattern keeps repeating itself. An exciting, vibrant phase of innovation and financial speculation is followed by a crash, after which begins a longer, more stately period during which the technology is actually deployed properly. This collection of surveys and articles from The Economist examines how far technology has come and where it is heading. Part one looks at topics such as the “greying” (maturing) of IT, the growing importance of security, the rise of outsourcing, and the challenge of complexity, all of which have more to do with implementation than innovation. Part two looks at the shift from corporate computing towards consumer technology, whereby new technologies now appear first in consumer gadgets such as mobile phones. Topics covered will include the emergence of the mobile phone as the “digital Swiss Army knife”; the rise of digital cameras, which now outsell film-based ones; the growing size and importance of the games industry and its ever-closer links with other more traditional parts of the entertainment industry; and the social impact of technologies such as text messaging, Wi-Fi, and camera phones. Part three considers which technology will lead the next great phase of technological disruption and focuses on biotechnology, energy technology, and nanotechnology.

Dept. of Speculation

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Author :
Publisher : Vintage
ISBN 13 : 038535102X
Total Pages : 130 pages
Book Rating : 4.3/5 (853 download)

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Book Synopsis Dept. of Speculation by : Jenny Offill

Download or read book Dept. of Speculation written by Jenny Offill and published by Vintage. This book was released on 2014-01-28 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the acclaimed author of Weather comes a slim, stunning portrait of a marriage--a beguiling rumination on the mysteries of intimacy, trust, faith, knowledge, and the condition of universal shipwreck that unites us all. ONE OF THE 10 BEST BOOKS OF THE YEAR - THE NEW YORK TIMES BOOK REVIEW A Best Book of the Year: The New Yorker, The Boston Globe, Minneapolis Star Tribune, Vogue.com, Electric Literature, Buzzfeed In the beginning, it was easy to imagine their future. They were young and giddy, sure of themselves and of their love for each other. “Dept. of Speculation” was their code name for all the thrilling uncertainties that lay ahead. Then they got married, had a child and navigated the familiar calamities of family life—a colicky baby, a faltering relationship, stalled ambitions. When their marriage reaches a sudden breaking point, the wife tries to retrace the steps that have led them to this place, invoking everything from Kafka to the Stoics to doomed Russian cosmonauts as she analyzes what is lost and what remains. In language that shimmers with rage and longing and wit, Offill has created a brilliantly suspenseful love story—a novel to read in one sitting, even as its piercing meditations linger long after the last page.

Habeas Data

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Publisher : Melville House
ISBN 13 : 1612196462
Total Pages : 305 pages
Book Rating : 4.6/5 (121 download)

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Book Synopsis Habeas Data by : Cyrus Farivar

Download or read book Habeas Data written by Cyrus Farivar and published by Melville House. This book was released on 2018-05-08 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: A book about what the Cambridge Analytica scandal shows: That surveillance and data privacy is every citizens’ concern An important look at how 50 years of American privacy law is inadequate for the today's surveillance technology, from acclaimed Ars Technica senior business editor Cyrus Farivar. Until the 21st century, most of our activities were private by default, public only through effort; today anything that touches digital space has the potential (and likelihood) to remain somewhere online forever. That means all of the technologies that have made our lives easier, faster, better, and/or more efficient have also simultaneously made it easier to keep an eye on our activities. Or, as we recently learned from reports about Cambridge Analytica, our data might be turned into a propaganda machine against us. In 10 crucial legal cases, Habeas Data explores the tools of surveillance that exist today, how they work, and what the implications are for the future of privacy.

Bubbles and Crashes

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Publisher : Stanford University Press
ISBN 13 : 1503607933
Total Pages : 284 pages
Book Rating : 4.5/5 (36 download)

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Book Synopsis Bubbles and Crashes by : Brent Goldfarb

Download or read book Bubbles and Crashes written by Brent Goldfarb and published by Stanford University Press. This book was released on 2019-02-19 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: “An interesting take on some factors that facilitate the development and bursting of bubbles in technology industries. . . . Highly recommended.” —Choice Financial market bubbles are recurring, often painful, reminders of the costs and benefits of capitalism. While many books have studied financial manias and crises, most fail to compare times of turmoil with times of stability. In Bubbles and Crashes, Brent Goldfarb and David A. Kirsch give us new insights into the causes of speculative booms and busts. They identify a class of assets—major technological innovations—that can, but does not necessarily, produce bubbles. This methodological twist is essential: Only by comparing similar events that sometimes lead to booms and busts can we ascertain the root causes of bubbles. Using a sample of eighty-eight technologies spanning 150 years, Goldfarb and Kirsch find that four factors play a key role in these episodes: the degree of uncertainty surrounding a particular innovation; the attentive presence of novice investors; the opportunity to directly invest in companies that specialize in the technology; and whether or not a technology is a good protagonist in a narrative. Goldfarb and Kirsch consider the implications of their analysis for technology bubbles that may be in the works today, offer tools for investors to identify whether a bubble is happening, and propose policy measures that may mitigate the risks associated with future speculative episodes.

Technological Revolutions and Financial Capital

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Publisher : Edward Elgar Publishing
ISBN 13 : 178100532X
Total Pages : 219 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Technological Revolutions and Financial Capital by : C. Perez

Download or read book Technological Revolutions and Financial Capital written by C. Perez and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technological Revolutions and Financial Capital presents a novel interpretation of the good and bad times in the economy, taking a long-term perspective and linking technology and finance in an original and convincing way.

Necromedia

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Publisher : U of Minnesota Press
ISBN 13 : 1452944350
Total Pages : 337 pages
Book Rating : 4.4/5 (529 download)

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Book Synopsis Necromedia by : Marcel O'Gorman

Download or read book Necromedia written by Marcel O'Gorman and published by U of Minnesota Press. This book was released on 2015-04-15 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Necromedia, media activist Marcel O’Gorman takes aim at “the collusion of death and technology,” drawing on a broad arsenal that ranges from posthumanist philosophy and social psychology to digital art and handmade “objects-to-think-with.” Throughout, O’Gorman mixes philosophical speculation with artistic creation, personal memoir, and existential dread. He is not so much arguing against technoculture as documenting a struggle to embrace the technical essence of human being without permitting technology worshippers to have the last word on what it means to be human. Inspired in part by the work of cultural anthropologist Ernest Becker, O’Gorman begins by suggesting that technology provides human beings with a cultural hero system built on the denial of death and a false promise of immortality. This theory adds an existential zest to the book, allowing the author not only to devise a creative diagnosis of what Bernard Stiegler has called the malaise of contemporary technoculture but also to contribute a potential therapy—one that requires embracing human finitude, infusing care into the process of technological production, and recognizing the vulnerability of all things, human and nonhuman. With this goal in mind, Necromedia prescribes new research practices in the humanities that involve both written work and the creation of objects-to-think-with that are designed to infiltrate and shape the technoculture that surrounds us.

Speculative Communities

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Publisher : University of Chicago Press
ISBN 13 : 0226816028
Total Pages : 209 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis Speculative Communities by : Aris Komporozos-Athanasiou

Download or read book Speculative Communities written by Aris Komporozos-Athanasiou and published by University of Chicago Press. This book was released on 2022-01-17 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In Speculative Communities, Komporozos-Athanasiou examines the ways that financial speculation has moved beyond markets to shape fundamental aspects of our social and political lives. As ordinary people make exceptional decisions--such as the American election of a populist demagogue or the British vote to leave the European Union--they are moving from time-honored and -tested practices of governance, toward the speculative promise of a different kind of future. Even our methods of building community have shifted to the speculative realm as social media platforms enable and amplify alternative visions of the present and future-these are the "speculative communities" that now shape our personal and political realities. For Komporozos-Athanasiou, "to speculate" means increasingly "to connect," to endorse uncertainty preemptively, and often daringly, as a means of social survival. Finance has thus become the model for society writ large. These financial systems have taken a notable turn in our current era, however. Contemporary capitalism sees the risk-taking, entrepreneurial person being refashioned as a politically disoriented, speculative subject, who embraces the future's radical uncertainty rather than averting it. As Komporozos-Athanasiou shows, virtual marketplaces, new social media, and dating apps function as finance's speculative infrastructures, leading to a new type of imagination across economy and society"--

Our Molecular Future

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Publisher : Prometheus Books
ISBN 13 : 1615922679
Total Pages : 392 pages
Book Rating : 4.6/5 (159 download)

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Book Synopsis Our Molecular Future by : Douglas Mulhall

Download or read book Our Molecular Future written by Douglas Mulhall and published by Prometheus Books. This book was released on 2010-01-28 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a vital book for those who care about the environment, society and deploying new technology to check the destructive power of humankind.- Allan Thornton, President, Environmental Investigation Agency, Washington, DC., and recipient of the Albert Schweitzer MedalThis book will shake conventional environmental wisdom to its roots. ... A landmark work that should be read by environmentalists and businesspersons alike.- Patrick Moore, cofounder, Greenpeace; president, GreenspiritIn Our Molecular Future [Mulhall] neatly outlines why our increasing ability to manipulate single atoms and molecules is a concern, and lays out the opportunities and threats this technology presents. And it''s surprisingly readable, unlike most of the nanobabble in the science journals. In the end, as Mulhall admits, he poses more questions than he answers. But that''s a good place to start.-New ScientistI just finished reading Douglas Mulhall''s outstanding new book Our Molecular Future . . . and I highly recommend it. Put this one at the top of your list! . . . In an easy to read format, with very few forays into geek-speak, Mulhall presents his well considered and thoroughly researched theories. Overall, an excellent overview for those who wish to understand how disruptive and enabling technologies may save us from ourselves and from mother nature. And along the way you will learn a lot about how nanoscale technologies may enhance our lives, provide abundance for all, and greatly raise the standard of living for everyone. . . . Rating: five stars out of five.- Rocky Rawstern, Nanotech NowWhat Alvin Toffler''s Future Shock was to the 20th century, Our Molecular Future will be to the 21st century.'What will happen to our jobs, health care, and investments when the molecular revolution hits?How might artificial intelligence transform our lives?How can molecular technologies help us cope with climate changes, earthquakes, and other extreme natural threats?Our Molecular Future explores some intriguing possibilities that answer these questions and many others. Douglas Mulhall describes the exponential changes that are about to be wrought by the nanotechnology and robotic revolutions, which promise to reduce the scale of computing to the nanometerùa billionth of a meterùwhile increasing computing power to almost unimaginable levels.The resulting convergence of genetics, robotics, and artificial intelligence may give us hitherto undreamed-of capacities to transform our environment and ourselves. In the not-so-distant future, our world may include machines that scour our arteries to prevent heart disease, cars and clothes that change color at our whim, exotic products built in our own desktop factories, and enhancements to our personal financial security despite greatly accelerated obsolescence.But while technology is making these fantastic leaps, we may also encounter surprises that throw us into disarray: climate changes, earthquakes, or even a seemingly improbable asteroid collision. These extremes are not the nightmare scenarios of sensationalists, Mulhall stresses, nor are many of them human induced. Instead, they may be part of nature''s cycleùrecurring more often than we''ve thought possible.The good news is that this convergence of catastrophe and technological transformation may work to our advantage. If we''re smart, according to Mulhall, we can use molecular machines to protect ourselves from nature''s worst extremes, and harness their potential benefits to usher in an economic renaissance.This visionary link between future technology and past disasters is a valuable guide for every one of us who wants to be prepared for the twenty-first century.Further Praise for OUR MOLECULAR FUTURE:A provocative and profoundly convincing message from the future.- Graham Hancock, archaeological journalist and author of Fingerprints of the GodsIn a breezy, journalistic style, Our Molecular Future takes us on a tour through some of the issues that will preoccupy ma

The Speculation Economy

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Author :
Publisher : ReadHowYouWant.com
ISBN 13 : 1458722732
Total Pages : 434 pages
Book Rating : 4.4/5 (587 download)

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Book Synopsis The Speculation Economy by : Lawrence E. Mitchell

Download or read book The Speculation Economy written by Lawrence E. Mitchell and published by ReadHowYouWant.com. This book was released on 2008-11-17 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to reveal the deep historical roots of the modern corporate obsession with stock price - a major cause of recent scandals like those at Enron and WorldComDetails how the rise of the modern corporation created the modern stock market - and why this led to an economy dominated by stock speculationAmerican companies once focused exclusively on providing the best products and services. But today, most corporations are obsessed with maximizing their stock prices, resulting in short-term thinking and the kind of cook-the-books corruption seen in the Enron and WorldCom scandals. How did this happen?In this groundbreaking book, Lawrence E. Mitchell traces the origins of the problem to the first decade of the 20th century, when industrialists and bankers began merging existing companies into huge ''combines''- today's giant corporations - so they could profit by manufacturing and selling stock in these new entities. He describes and analyzes the legal changes that made this possible, the federal regulatory efforts that missed the significance of this transforming development, and the changes in American society and culture that led more and more Americans to enter the market, turning from relatively safe bonds to riskier common stock in the hopes of becoming rich. Financiers and the corporations they controlled encouraged this trend, but as stock ownership expanded and businesses were increasingly forced to cater to stockholders' ''get rich quick'' expectations, a subtle but revolutionary shift in the nature of the American economy occurred: finance no longer served industry; instead, industry began to serve finance.The Speculation Economy analyzes the history behind the opening of this economic Pandora's box, the root cause of so many modern acts of corporate malfeasance.