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.

I‘m a big fan of user innovation theory (von Hippel) which is closely related to Hayek‘s findings.

Great read by @jasonpotts and colleague:
„Toolkits facilitate decentralised innovation by enabling centralised expertise to be encoded into technical rules that are realised in the toolkit software and interfaces. This enables greater use of distributed local knowledge (Hayek, 1945).“

Bridge-building @ V6A Labs. SoP 23 ☀️

I‘m a big fan of user innovation theory (von Hippel) which is closely related to Hayek‘s findings.

Great read by @jasonpotts and colleague:
„Toolkits facilitate decentralised innovation by enabling centralised expertise to be encoded into technical rules that are realised in the toolkit software and interfaces. This enables greater use of distributed local knowledge (Hayek, 1945).“
https://www.sciencedirect.com/science/article/pii/S219985312300152X