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0 sats \ 5 replies \ @anon 21h \ on: I'm Ella Hough, co-founder of BSN & fellow at Cornell BTPI . AMA! AMA
If money can be peer to peer, why can't other industries? Why do companies exist?
Wrote a somewhat-related section on this for my thesis! You might find this paper interesting: https://kaushikbasu.org/wp-content/uploads/2021/02/Binmore_Basu-11a.pdf
May you clarify more what other industries?
Also, I like the framework in the book Resistance Money when the authors talk about money (& language) as a "social kind." In my opinion, companies are not necessarily what I would classify as a "social kind" in the same sense even though they are run by a group of "peers."
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All the other industries! In a peer to peer exchange based market people "own the fruit of their labor", as it were, they buy inputs from someone and mix those inputs with time and labor and other means of production, and sell those outputs for someone. Free market, by its nature, is peer to peer. What's the rationale for some centralizing entities like company?
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Everything you listed can be done, and I'd argue, can better be done by a per to peer exchange-based market. Market actors specialize based on comparative advantage, which is manifested by input costs and output revenues in the market. Within a company tasks are ascribed by the entrepreneurs, they're inherently inefficient. And it's interesting you mention scale cause it is precisely company that sets the limit, without it, the scale of an industry is the extent of the market, which can be viewed as all the companies in one industry combined.
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^
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