A radically decentralized economy cannot be achieved incrementally: eight institutional problems that centralized business solved centuries ago must all be solved simultaneously, and their solutions must be integrated with one another.
Source quote, verbatim
Before the vision of a radically decentralized economy can be achieved, engineers and architects need to solve eight big problems that business solved centuries ago. All eight problems need to be solved simultaneously, and the solutions need to be inte- grated with each other.
From
Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021), Chapter 9. Eight institutions, p. 1 https://ssrn.com/abstract=3782205 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205
Holds when
applies to a decentralized economy intended to replace centralized institutions
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