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The Future of Consumer Payment
Once we paid for things with bills, coins, or checks. Today we pay with zeroes and ones digital entries on credit and debit cards, or electronic messages sent over the Internet. In Moving Money, distinguished analysts explore this trend, its development and likely future, and the ramifications of this transformation.
This is a book about money as a medium of exchange in the past, in the present, but particularly in the future. What forms has money taken over the years? Moreover, how have those means of payment changed in recent years, and how will they develop in the future? And what (if anything) should policymakers do to facilitate those changes, or at least allow them to develop and mature? Brookings economists Robert E. Litan and Martin Neil Baily and a distinguished group of experts dissect these issues and peer into the future of consumer payments.
The landscape of the consumer payments industry will be shaped at least in part by public policies. Historically, governments have had monopolies on the manufacture of money. Any form of payment clearly requires trust on the part of both the seller and the buyer, and the government must establish and enforce laws to secure this relationship. More controversial is the issue of whether, and to what extent, government is also needed to protect the market in private sector payments systems.
Why do these issues matter? The payments industry is a large and important sector of developed economies. In the United States, private-sector payments providers generate approximately $280 billion a year in revenue, while the government invests substantial resources into making money (minting coins and printing bills) or moving it (via checks and various electronic transfers). And the way we pay for things influences our purchases what we spend money on, how much we spend, and where we spend it. Thus the future of consumer payments is intertwined with the health of national economies.
Contributors: Martin Neil Baily (Brookings), Thomas P. Brown (O'Melveny & Myers), Kenneth Chenault (American Express Company), Vijay D'Silva (McKinsey and Company), Nicholas Economides (New York University), David S. Evans (Market Platform Dynamics), Robert E. Litan (Brookings and Kaufmann Foundation), Drazen Prelec (Massachusetts Institute of Technology), Richard Schmalensee (Massachusetts Institute of Technology)
Internet Prophets, Private Profits, and the Costs to Community
How has the Internet been changing our lives, and how did these changes come about? Nathan Newman seeks the answers to these questions by studying the emergence of the Internet economy in Silicon Valley and the transformation of power relations it has brought about in our new information age. Net Loss is his effort to understand why technological innovation and growth have been accompanied by increasing economic inequality and a sense of political powerlessness among large sectors of the population. Newman first tells the story of the federal government’s crucial role in the early development of the Internet, with the promotion of open computer standards and collaborative business practices that became the driving force of the Silicon Valley model. He then examines the complex dynamic of the process whereby regional economies have been changing as business alliances built around industries like the Internet replace the broader public investments that fueled regional growth in the past. A radical restructuring of once regionally focused industries like banking, electric utilities, and telephone companies is under way, with changes in federal regulation helping to undermine regional planning and the power of local community actors. The rise of global Internet commerce itself contributes to weakening the tax base of local governments, even as these governments increasingly use networked technology to market themselves and their citizens to global business, usually at the expense of all but their most elite residents. More optimistically, Newman sees an emerging countertrend of global use of the Internet by grassroots organizations, such as those in the antiglobalization movements, that may help to transcend this local powerlessness.
Institutions, Networks, and Power
In the twenty-first century, the production and use of scientific knowledge is more regulated, commercialized, and participatory than at any other time in history. The stakes in understanding these changes are high for scientist and nonscientist alike: they challenge traditional ideas of intellectual work and property and have the potential to remake legal and professional boundaries and transform the practice of research. A critical examination of the structures of power and inequality these changes hinge upon, this book explores the implications for human health, democratic society, and the environment.
Disrupting the Digital World
The digital world profoundly shapes how we work and consume and also how we play, socialize, create identities, and engage in politics and civic life. Indeed, we are so enmeshed in digital networks—from social media to cell phones—that it is hard to conceive of them from the outside or to imagine an alternative, let alone defy their seemingly inescapable power and logic. Yes, it is (sort of) possible to quit Facebook. But is it possible to disconnect from the digital network—and why might we want to?
Off the Network is a fresh and authoritative examination of how the hidden logic of the Internet, social media, and the digital network is changing users’ understanding of the world—and why that should worry us. Ulises Ali Mejias also suggests how we might begin to rethink the logic of the network and question its ascendancy. Touted as consensual, inclusive, and pleasurable, the digital network is also, Mejias says, monopolizing and threatening in its capacity to determine, commodify, and commercialize so many aspects of our lives. He shows how the network broadens participation yet also exacerbates disparity—and how it excludes more of society than it includes.
Uniquely, Mejias makes the case that it is not only necessary to challenge the privatized and commercialized modes of social and civic life offered by corporate-controlled spaces such as Facebook and Twitter, but that such confrontations can be mounted from both within and outside the network. The result is an uncompromising, sophisticated, and accessible critique of the digital world that increasingly dominates our lives.
Facial Recognition Technology and the Culture of Surveillance
“A groundbreaking study. Our Biometric Future considers facial recognition technology through its wide range of political entanglements, such as post-9/11 security measures, the management of urban populations in commercial districts, and self-representation in online social networking sites. Across these contexts, Gates shows how facial recognition's political effects have developed in spite of the fact that the technology does not actually work very well. Written with style and wit, Our Biometric Future will resonate with readers in cultural studies, new media, science and technology studies, and anyone interested in surveillance, privacy and security in contemporary life.”
Next-Generation Tactics to Remake Public Spheres
Vol. 1 (1957) through current issue (with gaps in vols. 22, 23)
Perspectives in Biology and Medicine, an interdisciplinary scholarly journal whose readers include biologists, physicians, students, and scholars, publishes essays that place important biological or medical subjects in broader scientific, social, or humanistic contexts. These essays span a wide range of subjects, from biomedical topics such as neurobiology, genetics, and evolution, to topics in ethics, history, philosophy, and medical education and practice. The editors encourage an informal style that has literary merit and that preserves the warmth, excitement, and color of the biological and medical sciences.
From the Digital to the Bookbound
Lori Emerson examines how interfaces—from today’s multitouch devices to yesterday’s desktops, from typewriters to Emily Dickinson’s self-bound fascicle volumes—mediate between writer and text as well as between writer and reader. Following the threads of experimental writing from the present into the past, she shows how writers have long tested and transgressed technological boundaries.
Reading the means of production as well as the creative works they produce, Emerson demonstrates that technologies are more than mere tools and that the interface is not a neutral border between writer and machine but is in fact a collaborative creative space. Reading Writing Interfaces begins with digital literature’s defiance of the alleged invisibility of ubiquitous computing and multitouch in the early twenty-first century and then looks back at the ideology of the user-friendly graphical user interface that emerged along with the Apple Macintosh computer of the 1980s. She considers poetic experiments with and against the strictures of the typewriter in the 1960s and 1970s and takes a fresh look at Emily Dickinson’s self-printing projects as a challenge to the coherence of the book.
Through archival research, Emerson offers examples of how literary engagements with screen-based and print-based technologies have transformed reading and writing. She reveals the ways in which writers—from Emily Dickinson to Jason Nelson and Judd Morrissey—work with and against media interfaces to undermine the assumed transparency of conventional literary practice.
Economy and Cultural Form