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[...] Legislators are beginning to address that by proposing bills that would make long-term unemployment an illicit basis for hiring decisions. But number crunchers may simply feed “length of time since last job” into their hiring models, and if that factor is weighted heavily, it could be utterly…

In the context of massive Internet firms, competition is unlikely. Most start-ups today aim to be bought by a company like Google or Facebook, not to displace them. [...]

From the tech and telecom craze of the late 1990s to house price escalation from 2002 to 2006, asset bubbles are a predictable consequence of black box finance. Insiders who understand their true dynamics can sell at the top, reaping enormous windfalls. But their gains represent “a claim on future …