Risk scores, generated by algorithms, are an increasingly common factor in sentencing. Computers crunch data—arrests, type of crime committed, and demographic information—and a risk rating is generated. The idea is to create a guide that’s less likely to be subject to unconscious biases, the mood of a judge, or other human shortcomings. Similar tools are used to decide which blocks police officers should patrol, where to put inmates in prison, and who to let out on parole. Supporters of these tools claim they’ll help solve historical inequities, but their critics say they have the potential to aggravate them, by hiding old prejudices under the veneer of computerized precision. ... Computer scientists have a maxim, “Garbage in, garbage out.” In this case, the garbage would be decades of racial and socioeconomic disparities in the criminal justice system. Predictions about future crimes based on data about historical crime statistics have the potential to equate past patterns of policing with the predisposition of people in certain groups—mostly poor and nonwhite—to commit crimes.
There was no future, no jobs, said my companion. Corruption flourishes, he went on, so-called tenderpreneurs thrived, a breed who use inside knowledge to make a mockery of the tender process, inflating costs while lowering standards. ... A teacher-turned-trader, part-time entrepreneur and occasional taxi-driver, he owns a plot on which he grows maize — although not for his family: the crop is sent to relatives in the countryside. Reversing the traditional direction of trade, workers in the city are now feeding the farmers. The drought, the worst for three decades and embracing much of southern Africa, is taking its toll. ... Zimbabwe is far from “dead”. The country is free of religious divisions — although cursed by ethnic and clan tensions — and still has supportive neighbours, a battered but surviving infrastructure, a broad English-speaking skills base and a talented diaspora longing to return home. And above all, the military are still — for now — in the barracks.
Americans are bad at saving. In an annual survey by the Fed, almost half said they couldn’t come up with $400 in an emergency. The savings rate of the bottom 90 percent of American households hovers just above 1 percent. ... There are many theories for why Americans don’t save, from poverty to debt to conspicuous consumption. But the most enticing comes from behavioral economics: It’s easier not to. Inertia is strong, and putting money away requires overcoming what economists call present bias. ... The good news, according to behavioral economists, is that we can just as easily be tricked into overcoming that psychology with “nudges” that reframe incentives. Just post calorie counts next to unhealthy food, and people won’t order cheeseburgers. Or, make 401(k) plans opt-out, and more people will save money for retirement. Suddenly, with one oh-so-simple tweak, making bad decisions becomes the harder option. ... At every step of the way, the study ran into a web of competing incentives and pesky human flaws that hurt its goal of getting poor people to save money. ... The problem goes beyond a sheer lack of funds. The psychology of poverty is hard to overcome with a dainty nudge. ... the study’s preliminary results were muddy. They suggested that the nudge method did get some people to save more: Deposits increased when people got some kind of reminder. But they didn’t show whether one type of nudge worked better than any other (possibly because of teller error), and they provided no evidence that the savings accounts helped people build up money over time.
Cuba has two economies now: the national Communist economy for the majority; and a quasi-capitalist one for foreigners and the elite. Each has its own currency: the Communist economy uses the Cuban peso, and the capitalist bubble uses the convertible peso. Cuban pesos are worth nothing. They can’t be converted to dollars or euros. Foreigners can’t even spend them in Cuba. The convertible pesos are pegged to the U.S. dollar, but banks and hotels pay only 87 Cuban cents for each one—the government takes 13 percent off the top. The rigged exchange rate is an easy way to shake down foreigners without most noticing. It also enables the state to drain Cuban exiles. A million Cuban-Americans live in south Florida, and another half-million live elsewhere in the United States. They send hundreds of millions of dollars a year to family members still on the island. The government gets its 13 percent instantaneously and most of the remaining 87 percent later because almost every place that someone can spend the money is owned by the state. ... A single restaurant meal in Havana costs an entire month’s salary. One night in a hotel costs five months’ salary. A middle-class tourist from abroad can easily spend more in one day than most Cubans make in a year.