# Economic loss

`kaal:entity:economic-loss`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `economic-loss`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 3 works, 2017 to 2021.

**2017**

- [3071378-025](https://wulfkaal.github.io/claims/3071378-025) [empirical/evidenced] -- By some estimates the lack of inclusion of minorities in corporate America costs the U.S. economy one trillion dollars per year once the pay gap between whites and minorities is taken into account.
  > According to some estimates, the lack of inclusion of minorities in corporate America costs the U.S. economy $1 trillion per year, taking into account the pay gap between whites and minorities. 85
  Wulf A. Kaal, Blockchain Technology and Race in Corporate America (2017). SSRN: https://ssrn.com/abstract=3071378

**2019**

- [3441904-024](https://wulfkaal.github.io/claims/3441904-024) [mechanism/argued] *(failure mode)* -- Hard forks can reintroduce the double spend problem, because wallets, merchants, and users running the previous code deem the new code invalid and cannot detect spending on it, so coins spent in a new block could be spent again on an old block.
  > Because wallets, merchants, and users running the previous code deem the new code invalid and thus cannot detect the spending on the new code, cryptocurrencies spent in a new block could be spent again on an old block.
  Wulf A. Kaal, Blockchain-Based Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3441904

**2021**

- [3808873-033](https://wulfkaal.github.io/claims/3808873-033) [mechanism/argued] *(failure mode)* -- Decentralized networks depend on dynamic governance because evolving blockchain protocols require updates, and the practice of hardforking that remained prevalent in the early 2020s created significant economic loss for such blockchains.
  > As blockchains protocols evolve in a given market, they require updates. The practice of hardforking, that was still prevalent in the early 2020s, created significant economic loss for such blockchains.
  Wulf A. Kaal, Decentralization Neutralizers (2021). SSRN: https://ssrn.com/abstract=3808873

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/economic-loss.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.