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And the human victims of WMDs, we’ll see time and again, are held to a far higher standard of evidence than the algorithms themselves. A Fair Model Local bankers used to stand tall in a town. If you wanted a new car or a mortgage, you’d put on your Sunday best and pay a visit.
And as a member of your community, this banker would probably know certain details about your life.
Outsiders, including minorities and women, were routinely locked out.
They had to create an impressive financial portfolio — and then hunt for open-minded bankers. And then along came an algorithm, and things improved.
What’s more, thanks to the extraordinary powers I loved so much, math combined with technology to multiply the chaos and misfortune, adding efficiency and scale to systems that I now recognized as flawed.
If we had been clear-headed, we all would have taken a step back to figure out how math had been misused and how we could prevent a similar catastrophe in the future.
This not only saved time but also was marketed as fair and objective.And increasingly, they focused not on the movements of global financial markets but on human beings — on us.Mathematicians and statisticians were studying our desires, movements and spending power.When I was little, I used to gaze at the traffic out the car window and study license plate numbers.I would reduce each one to its basic elements — the prime numbers that made it up. That’s called factoring, and it was my favorite investigative pastime. I went to math camp when I was 14 and came home clutching a Rubik’s Cube to my chest.