In 'The Unaccountability Machine', Dan Davies explores why large systems, including markets, institutions, and governments, often produce outcomes that no one intends. He draws on the work of Stafford Beer, a pioneer in management cybernetics, to explain how organizations can be seen as artificial intelligences making decisions independent of their members' intentions. Davies critiques the current state of management and economic systems, highlighting the concept of 'accountability sinks' where negative feedback is ignored, and discusses the consequences of these systemic failures, including the 2008 financial crisis. The book is a blend of part-biography and part-political thriller, offering a compelling narrative on the need for better accountability and decision-making processes.
In this book, John Carey examines how early twentieth-century intellectuals, including writers such as George Bernard Shaw, Ezra Pound, D. H. Lawrence, E. M. Forster, Virginia Woolf, H. G. Wells, Aldous Huxley, and W. B. Yeats, conceived and wrote about the masses in disparaging terms. Carey argues that these intellectuals imagined the masses as semi-human swarms, influenced by popular culture, and often advocated for elitist and exclusionary views. The book critiques the modernist movement as a reaction against the rise of mass culture and literacy, suggesting that modernist writers deliberately made their work inaccessible to the masses to preserve their intellectual seclusion[1][3][4].
Jacob and Rob respond to listener feedback about negativity by focusing on positive trends, including declining violent crime and drug overdose rates in the U.S. They then dive into a high-level exploration of stablecoins—what they are, why they matter, and the potential risks and geopolitical implications of their rise. They compare the U.S. approach to stablecoins with the digital currency strategies of China and the EU, unpack the difference between innovation and systemic risk, and ask whether the erosion of trust in financial systems is worth the trade-off. A thoughtful, wide-ranging conversation on money, power, and volatility.
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Timestamps:
(00:00) - Intro
(01:44) - Positive Trends in Crime and Health
(09:58) - The Volatility Spiral and Technological Change
(16:06) - Introduction to Stable Coins
(22:36) - Regulation and Risks of Stable Coins
(27:11) - Global Perspectives on Stable Coins
(35:15) - Innovation in Payment Systems
(35:28) - Central Bank Digital Currencies vs. Stablecoins
(36:10) - Ideological Differences in Digital Currencies
(36:24) - Stablecoins: Private Money and Regulation
(37:17) - European Digital Euro Approach
(39:28) - US Legislation on Stablecoins
(41:36) - Risks and Regulations of Stablecoins
(56:25) - International Perspectives on Digital Currencies
(01:00:40) - Geopolitical Implications of Digital Currencies
(01:12:42) - Conclusion and Future Discussions
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Referenced in the Show:
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Jacob Shapiro Site: jacobshapiro.com
Jacob Twitter: x.com/JacobShap
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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com
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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.
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This podcast uses the following third-party services for analysis:
Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp
The Jacob Shapiro Podcast 
