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Simon de la Rouviere
@simondlr
If Acemoglu et al's work on Why Nations Fail point to lack of good institutions, I wonder to what extent blockchains can/do act as institutional-ish backstops. Replacing institutions with protocols. Money's an example. But even like a prediction market. Feels like being able to bet on the future, makes the future more certain? eg, here's a heck of a control group/study question: being able to bet on politics actually induces stability?
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Simon de la Rouviere
@simondlr
To be fair. This is all really just pouring more thought into @js's hardness bucket. Hardness in whatever form what creates stable growth.
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Simon de la Rouviere
@simondlr
There's another point here. It's not just creating hardness by itself, but blockchains allow harder nations to export their institutions/hardness. eg, USD stablecoins.
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