3 ms·
My problem with his solution is that it lacks two key components of an implementable design, better incentives and a competitive advantage. As a result, you'd s
by ameetgaitonde 6y ago
My problem with his solution is that it lacks two key components of an implementable design, better incentives and a competitive advantage. As a result, you'd seemingly need an authoritarian government to force these types of changes, which has the potential to cause greater harm than the problem it's fixing.
Incentives - While such a system seems better for workers, it doesn't show any benefit for entrepreneurs or investors. Why would anyone start such a business if they lose control almost immediately? What is the incentive for investment if it doesn't come with the potential for a return?
Competitive Advantage - The reason you'd need an authoritarian government is because anyone using a traditional ownership model would have an advantage against these types of companies. As we've seen in cooperatives, one-person-one-vote creates freerider and horizon problems, and the pressure to form smaller firms would eliminate the economies of scale that many firms today enjoy.
This feels more like a political solution, and seems liable to succumb to predictable economic behaviors.
- cblconfederate 6y agoIndeed there s no self-reflection on the viability of the supposed "plan". Yet again, this is the same guy who was supposedly planning to counter the ECB's demands by setting up a guerilla currency through blockchains and I-owe-Us.
- calcifer 6y ago> Indeed there s no self-reflection on the viability of the supposed "plan". Perhaps the viability is examined in the book, which is mentioned within the article title? > Yet again, this is the same guy who was supposedly planning to counter the ECB's demands by setting up a guerilla currency through blockchains and I-owe-Us. "Supposedly" as in conspiracy theories backed by thin air?
- cblconfederate 6y agooh no, it's what he claimed to be doing. I don't believe he could pull it through of course, but he himself claims he came up with that crazy plan . https://www.keeptalkinggreece.com/2016/01/20/varoufakis-reveals-plan-x-parallel-currency-in-case-greece-would-have-been-kicked-out-of-the-eurozone/ https://www.keeptalkinggreece.com/2016/01/20/varoufakis-reve... https://news.yahoo.com/varoufakis-parallel-currency-ploy-sparks-uproar-greece-140830211.html https://news.yahoo.com/varoufakis-parallel-currency-ploy-spa...
- bloudermilk 6y ago> As we've seen in cooperatives, one-person-one-vote creates freerider and horizon problems Where have we seen this? Would you mind elaborating or sharing some concrete examples?