Summer of Protocols

Working through Polyani's The Great Transformation rn and it feels like relevant reading for our current day in-between times. Learning a lot more about how markets came to be - as externalities of the fiscal-military state, not as spontaneously as Hayek, Friedman and basically every economic class make them out to be.

https://www.penguinrandomhouse.com/books/206182/the-great-transformation-by-karl-polanyi/

Markets do uniquely address what Hayek calls "the knowledge problem"  though - the challenge of coordinating millions of individual preferences, circumstances, and bits of local knowledge that no central planner or force could possibly process on their own. 

Wondering if protocol economics/entrepreneurship could be a way to have your cake and eat it too. Markets mechanics without market failures.