More independent evidence supporting Thomas Piketty’s hypothesis on inequality: r >> g; i.e., rate of return on capital is much higher than growth rate of the economy. Since wealth is less evenly distributed than income, this pushes the economy towards ever higher levels of inequality.

https://www.economist.com/news/finance-and-economics/21733988-property-yields-more-shares-and-bonds-investment-returns-outstrip-economic

“People naively believe that if you take deep learning and scale it 100 times more layers, and add 1000 times more data, a neural net will be able to do anything a human being can do….deep learning is greedy, brittle, opaque, and shallow.”

The enthusiasm for machine learning, and deep learning in particular, brings back my memory of the heydays of quantitative investment management in the late 1990’s and early 2000’s, when many people believed in the power of econometrics to handle any investment decisions.  While quant investing did make some headways and has become an important tool, it is a far cry from that rosy prediction.  In my view, the main reason is because it is trying to use crude (and possibly wrong) statistical methods to model collective human psychology and behavior, of which we humans have little understanding to begin with.

https://www.wired.com/story/greedy-brittle-opaque-and-shallow-the-downsides-to-deep-learning/

Mice showed symptoms of a rodent version of a concussion, damaged blood-brain barriers and leaky blood vessels, after undergoing sudden, strong jerking of their heads. You don’t need concussions to permanently damage the brain.

Using young male mice, they applied relatively mild jolts, designed to result in a sudden, strong jerking of their heads, much as occurs during head-to-head tackles and other impacts. Afterward, some animals showed symptoms of a rodent version of a concussion, stumbling and performing poorly on memory tests.

The scientists then injected some animals with a dye that cannot cross a healthy blood-brain barrier and scanned the living animals’ brains. In about half of the mice, they saw signs of the dye in their brains, indicated that their blood-brain barriers had become permeable. Many of the mice also showed signs of leaky blood vessels and other damage, including inflammation and disruptions in the electrical activity within their brains.