This means lowering tx costs is no guarantee that org size distribution will shift to have majority mass in n=1 regime. It is getting reshaped but unclear how. Right now it looks bimodal (big-n regime platforms, n=1 free-agent) but I don’t think that’s necessary.
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If organization-mediated transactions are one end of a spectrum with currency-mediated transactions in the middle, two questions follow: Is there a different regime st the other end of the spectrum? What parametrizes the spectrum if it is NOT transaction costs?
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High transaction costs are a wonderful barrier to all kinds of mischief that we don’t now suffer cause it ain’t worth it
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Let the mischief begin
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