Removing the middlemen who serve as business catalysts would kill the economy: liquidity would dry up because after a few people unfairly lose on business deals, no one will take the risk of initiating one.
Source quote, verbatim
Remove the middlemen business catalysts and the economy will soon die. Liquid- ity will dry up. A few people will unfairly lose on business deals, then no one will take the risk to initiate a business deal.
From
Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021), The fallacy of Uniformitarianism and Chesterton’s fence, p. 21 https://ssrn.com/abstract=3782201 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Future of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782201
Holds when
where no automated substitute performs the catalyst function
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