SynopsisFascinating reference here is made to ".....seeing inflation in real time...." This is in keeping with the evolving concept of Transfinancial Economics. I hope to read this book soon. http://www.p2pfoundation.net/Transfinancial_Economics
Another summary of the work from the same source The Guardian, Pindar
Thanks to the internet, social networking, smartphones and credit cards, more data is being collected and stored about us than ever before â€“ a level of surveillance the Stasi could only dream about, say Mayer-SchÃ¶nberger and Cukier in this informative introduction to the "datafication" of our lives. Big data analysis gives big business a competitive edge (all those Amazon recommendations), but governments have invested heavily in it, too. The risks to privacy and freedom are obvious, but the authors accentuate the positive. Big data has useful applications in medicine, science and "culturomics". Mayer-SchÃ¶nberger and Cukier make interesting observations about data-crunching techniques and they also report that analysts have found substantial amounts of "lexical dark matter" (words in books but not in dictionaries). In this brave new world of big data, Google and Amazon are frontrunners â€“ although behind the NSA and GCHQ. The next challenge may be avoiding the "dictatorship of data".