And I simply don’t have the knowledge to judge the value of Domingos’s reports on his own progress to the master algorithm.
Before getting to the details, The Master Algorithm is a book on machine learning.
With the left often on the backfoot in most developed economies for more than a quarter century, it has been the right which has successfully mobilized against cultural ‘others’ often divided among themselves.
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Its rejection of the neoliberal Washington Consensus does not imply opposition to contemporary imperialism, but rather threatens a return to old — and new — forms of domination, economic and otherwise.
More than ever, it will be crucial for developing countries to work together, not only to ensure that South-South and ‘triangular’ (with the North) cooperation represents a progressive alternative to the Washington Consensus and its national chauvinist successors.
David Beckworth thinks the Fed is the global central bank (excerpt): The Monetary Superpower: As Strong As Ever [A] defining feature of the US financial system is that its central bank, the Federal Reserve, has inordinate influence over global monetary conditions.
Because of this influence, it shapes the growth path of global aggregate demand more than any other central bank does.
The opening and the close of the book verge on techno-Panglossianism.
The five chapters on the various “tribes” of machine learning, plus the chapter on learning without supervision, are excellent.
Economic growth was expected to trickle down to reduce poverty, with broader sustainable development and inequality concerns consigned to the garbage bin.
But the Washington Consensus policies not only failed to sustain economic growth, largely due to the greater instability and volatility associated with financial liberalization, especially across borders.
This was crucially supported by the generous Marshall Plan, arguably the first, largest and most successful development cooperation program, triggered by the beginning of the Cold War.