Algorithms. People talk about them all the time, particularly in relation to markets. But who actually designs them, and what do they do? On this week's episode of the Odd Lots podcast, we speak with Frank Pasquale, a law professor at the University of Maryland, and the author of "The Black Box Society: The Secret Algorithms That Control Money and Information." Pasquale, who has been following the growing importance of algorithms for several years explains the various ways they're shaping our life without us being aware of it.

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