monopoly

Book review – The European Guilds: An Economic Analysis

8-minute read

This review is a case of one book leading to another. When I read Carl Benedikt Frey’s The Technology Trap, one argument he raised as to why the Industrial Revolution arrived as late as it did, was the resistance to innovation by guilds. But beyond certain vague and probably romantic notions, what do I really know about medieval guilds? And thus I found myself sitting down with The European Guilds, a hefty 645-page book by economic historian Sheilagh Ogilvie, published in The Princeton Economic History of the Western World series. This meticulously argued book crushes the idea that guilds served the common good. Instead, argues Ogilvie, through their profiteering they held Europe in an economic stranglehold that lasted for centuries.

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Book review – Escape from Rome: The Failure of Empire and the Road to Prosperity

7-minute read

I will happily shoehorn a Monty Python reference into any conversation, but in this case historian Walter Scheidel beat me to it. What did the Roman Empire ever do for us? It fell and never returned – and with it, it paved the way for modernity. That, in one sentence, is the bold idea Scheidel puts forth here. And rather than ask why Rome fell, he has far more interesting questions for you. Why did nothing like it arise ever again in Europe? Why did it arise in the first place? And how did this influence the way Europe came to dominate the world much later? Escape from Rome is a brilliantly subversive book that offers a refreshingly novel look at how Europe got to where it is now.

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Book review – Rage Inside The Machine: The Prejudice of Algorithms, and How to Stop the Internet Making Bigots of Us All

7-minute read

There is an amusing and slightly acerbic acronym that has stuck with me from my days working at a computer helpdesk for an international oil firm: PICNIC. Short for “problem in chair, not in computer”, my colleagues used it as code whenever an employee rocked up at our helpdesk with a complaint or problem that was due to human clumsiness rather than malfunctioning hardware. “Did you check that the printer was plugged into the power socket?”

Nevertheless, says Artificial Intelligence (AI) researcher Robert Elliott Smith, our blind faith in computers and the algorithms that run them is misguided. Based on his 30 years experience working with AI, the aptly titled Rage Inside the Machine takes the reader on a historical tour of computing to show how today’s technology is both less amoral and more prejudiced than we give it credit for.

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Book review – The Internet Trap: How the Digital Economy Builds Monopolies and Undermines Democracy

The internet was supposed to be the great leveller. A revolutionary new medium that would allow anyone, anywhere to share his views and opinions with the world. A medium that would lead to robust and civil discourse amongst the citizens of planet Earth, with people holding different viewpoints exchanging ideas and finding inspiration. It would spell the end of big companies, with “competition being only a click away”, and numerous promising startups hiding in garages everywhere, ready to burst onto the scene. With the cost of reproduction and distribution approaching zero, anyone could start a blog, be a journalist, be heard!

Now take another good look around you. Where is the internet that we were promised?

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