Tech companies shroud their algorithms in secrecy. It’s time to pry open the black box
The so-called father of capitalism, Adam Smith, would frown upon the ‘free markets’ of the 21st century, argues the US economics writer Rana Foroohar. For Smith, a functioning market required transparency, a mutual understanding of exchanges and a shared moral framework. And, as Foroohar puts it in this brief animation for the Royal Society of Arts, Manufactures and Commerce (RSA), surveillance capitalism – pioneered by Google, and now, to varying degrees, ubiquitous worldwide – comes up short on all three fronts. Featuring excerpts from a presentation given by Foroohar at the RSA House in London in 2019, this brief animation lays out the many ways in which surveillance capitalism continues to encroach unchecked, and one potential plan for course correction.