Quotessence
Home / Quotes / Quote by Evgeny Morozov

Quote by Evgeny Morozov

Work

To Save Everything, Click Here: The Folly of Technological Solutionism

This book critically examines the role of technology in modern life, arguing that an excessive focus on technological fixes can lead to unintended consequences and undermine human values. more

Author

Evgeny Morozov
Evgeny Morozov

Evgeny Morozov is a Russian-born writer known for his critical analysis of the impact of digital technology on society and politics. His work explores issues such as internet freedom, privacy, and technological utopianism. more

You May Also Like

“In the Adaptive Markets framework, complexity means we don't have a good narrative for the system. The solution is obvious: we need to get smarter. Complexity can sometimes be reduced by developing a deeper understanding of the underlying structure of the system. For example, now that we understand the potential for liquidity spirals in statarb portfolios, thanks to August 2007, we can better prepare for them. But the Adaptive Markets framework points to a second problem with complexity, which is the potential divisiveness of special knowledge and the potential for conflict. If the financial system becomes so complex that only a small number of elites truly understand its function and proper maintenance, this knowledge divides the population into those who know and those who don't. Of course, this situation arises with any piece of unique information - I know how to make scallion pancakes in a particular way so they're crispy on the outside but soft and chewy on the inside, and you probably don't. But that piece of knowledge is hardly worth keeping a secret, and the fact that you don't have that knowledge isn't going to get you too upset. But suppose I know how to cure diabetes and you don't. Or I know how to prevent cancer by avoiding certain common foods and you don't. Or I know how to price mortgage-backed securities and credit default swaps and you don't. In these cases, the knowledge I possess confers a certain power and status to me. Complexity creates the need for better narratives and those who have those narratives will become the high priests of complex systems, the gatekeepers of critical, life-altering knowledge. And the difficulty in joining the priesthood - earning an MD/Ph.D. in molecular biology and having twenty year of work experience at biotech and pharmaceutical companies, in the case of curing diabetes - coupled with the societal values of the special knowledge will determine the divisiveness of this elitism.”

KnowledgePowerComplexityGatekeepersDivisiveness
Book:Adaptive Markets: Financial Evolution at the Speed of Thought
Create image

“Don't get so busy on your career that you forget to have a life. You CAN do both. You can make lots of money, become a millionaire AND enjoy time with family, friends AND be a great role-model as a parent. - Neil B Wood - The Best Practices of Successful Financial Advisors”

SuccessFatherhoodMillionaireBest SellersFinancial AdvisorOlympic StoryClient ManagementProfessional Speaker
Book:The Best Practices Of Successful Financial Advisors: Have More Fun, Make More Money, and Find More Time
Create image