From MIT Technology Review: algorithms are making American inequality worse. My takeaway from this piece is not that it is the algorithms themselves but the thought processes behind them. Algorithms simply optimize the achievement of the goals you set out for. Based on unfair and unjust starting premises, algorithms just make the injustice more efficient.
Oxfam’s annual report for 2018 shows a dismally widening inequality gap.
Last year saw the biggest increase in billionaires in history, one more every two days. Billionaires saw their wealth increase by $762bn in 12 months. This huge increase could have ended global extreme poverty seven times over. 82% of all wealth created in the last year went to the top 1%, while the bottom 50% saw no increase at all.