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The corporations and machines that replace them will never be bound to the land by the sense of birthright and continuity, or by the love that enforces care. They will be bound by the rule of efficiency, which takes thought only of the volume of the year’s produce, and takes no thought of the life of the land, not measurable in pounds or dollars, which will assure the livelihood and the health of the coming generations.
The World-Ending Fire
Wendell Berry
The diagram is a real relation of power, yet equally an abstract machine whose reality is established by power, and configured by the intersection between the histories of both power and the sciences of government which depend on it. Schemata of management do not come into actual operation by their own power, but by the power that actualizes them, a power which itself may be caught in, even addicted to, its own machinations. Such is the case with the dominant machine that cancerously only produces itself: capital.
But the real leap came once traders replaced themselves with algorithms capable of aggregating data from all the trading platforms and executing high-frequency trades at a rate and volume beyond the cognitive capacity of hundreds of human beings. These derivatives markets quickly outpaced the traditional trading activity on the stock market. Derivatives trading became so dominant that the New York Stock Exchange was actually purchased by its derivatives exchange in 2013. The stock market—already an abstraction of the real marketplace—was swallowed by its own abstraction.
Survival of the Richest
Douglas Rushkoff
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