Shower thought - why did central planning at the national level fail in Soviet Russia, in a global competitive ecosystem of nation states, yet we expect it to succeed in monopolist corporations, in a global competitive ecosystem of companies? Is it the extent of the competition?
One standard answer is Coase's paper on the theory of the firm (and zillions of elaborations, counterarguments etc): https://www.law.uchicago.edu/files/file/coase-nature.pdf …
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Hmm, I was specifically thinking about it in the context of optimisation, not trust, although I guess they're related. Reading an essay on linear optimisation in economic planning that made me wonder this...
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Coase is not about trust. There are a variety of reasons it's sometimes better to work with strangers, other times better with friends.https://twitter.com/edelwax/status/1101409882971033600?s=21 …
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Ooh, I’m curious about this - what are some reasons it would be better to work with strangers?
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