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I never said it was efficient. There's clearly a lot of potential value wasted compared to more trustable institutions. Your point about monopoly is off the mar

by Sharlin 8mo ago

I never said it was efficient. There's clearly a lot of potential value wasted compared to more trustable institutions. Your point about monopoly is off the mark, though – in every high-trust society it's the government that people need to trust, because it's the ultimate enforcer of trust in any other institutions.

danans 7mo ago
> Your point about monopoly is off the mark, though – in every high-trust society it's the government that people need to trust, because it's the ultimate enforcer of trust in any other institutions. I'm not sure where the disagreement is. I agree that people need to trust government in a high trust society. Government is also the ultimate inherent monopoly.