The Slow Death of the Firm

The model of a company having strict boundaries between internal and external may have made sense in the Industrial Age, but in the Information Age, this model leads to misaligned incentives and unsustainable extraction.

millions and millions of people own U.S. dollars, which means precisely that some bank has a list and there is an entry for them on that list. It’s probably not in Excel, but same basic idea: The bank has a list of dollars in its accounts, the list is not kept via any sort of consensus mechanism or blockchain or whatever; the bank just keeps the li... See more