Joseph Stiglitz on Trust
Joseph Stiglitz has an excellent essay on the value of trust, and the lack of it in today’s society.
Trust is what makes contracts, plans and everyday transactions possible; it facilitates the democratic process, from voting to law creation, and is necessary for social stability. It is essential for our lives. It is trust, more than money, that makes the world go round.
At the end, he discusses a bit about the security mechanisms necessary to restore it:
I suspect there is only one way to really get trust back. We need to pass strong regulations, embodying norms of good behavior, and appoint bold regulators to enforce them. We did just that after the roaring ’20s crashed; our efforts since 2007 have been sputtering and incomplete. Firms also need to do better than skirt the edges of regulations. We need higher norms for what constitutes acceptable behavior, like those embodied in the United Nations’ Guiding Principles on Business and Human Rights. But we also need regulations to enforce these norms a new version of trust but verify. No rules will be strong enough to prevent every abuse, yet good, strong regulations can stop the worst of it.
This, of course, is what my book Liars and Outliers is about.
self • December 30, 2013 10:34 AM
trust? how can there be trust when we have this United Stasi of America?
Spiegel has this article about a catalog of surveillance gear available to NSA’s targeted operations.
Shopping for Spy Gear: Catalog Advertises NSA Toolbox
http://www.spiegel.de/international/world/catalog-reveals-nsa-has-back-doors-for-numerous-devices-a-940994.html
Some of the equipment available is quite inexpensive. A rigged monitor cable that allows “TAO personnel to see what is displayed on the targeted monitor,” for example, is available for just $30. But an “active GSM base station” — a tool that makes it possible to mimic a mobile phone tower and thus monitor cell phones — costs a full $40,000. Computer bugging devices disguised as normal USB plugs, capable of sending and receiving data via radio undetected, are available in packs of 50 for over $1 million.
Gizmodo talks about another Spiegel article according to which NSA actually intercepted packages to put backdoors in electronics.
The NSA Actually Intercepted Packages to Put Backdoors in Electronics
http://gizmodo.com/the-nsa-actually-intercepted-packages-to-put-backdoors-1491169592