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Revolutionary Mathematics: Artificial Intelligence, Statistics, and the Logic of Capitalism
Aug 21, 2023
Justin Joque, visualization librarian at the University of Michigan and author of Revolutionary Mathematics: Artificial Intelligence, Statistics, and the Logic of Capitalism, explores the impact of algorithms on financial systems and discusses the consequences of relying on digital systems for decision-making. He delves into the differences between frequentist and Bayesian statistical models, examines capitalist realism and its limitations, and highlights the history and use of statistical models in relation to capital.
43:01
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Quick takeaways
- Statistical models in financial systems prioritize maximizing rewards, contributing to the financialization of markets.
- Understanding the subjectivity of statistical models, such as Bayesian statistics, is essential to grasp their potential for automation and assigning probabilities.
Deep dives
Role of algorithms and statistical models in financial systems
The podcast episode explores the role of algorithms and statistical models in financial systems. The author of Revolutionary Mathematics discusses how these models are based on maximizing rewards, contributing to the financialization of markets. The author highlights the need to understand not only algorithmic bias but also the larger questions of political economy that shape these systems.
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