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I don't think that's true at all. It will certainly disproportionately benefit companies that smooth out the kinks before their competitors do, and that will be
by reitzensteinm 14y ago
I don't think that's true at all. It will certainly disproportionately benefit companies that smooth out the kinks before their competitors do, and that will be eliminated with industry wide adoption.
But take the inverse; if every transaction in the world were made more difficult (eg, by removing credit cards and bank transfers, leaving cash and mailed cheques), do you believe that wouldn't shrink the economy?
Worldwide adoption of best practices certainly wouldn't suddenly increase the worldwide GDP 20%, but the rising tide of demand due to reduced transaction friction would lift all boats, so to speak.
- loceng 14y agoI think people would make better and smarter purchases if things weren't so easily purchased.
- jfoster 14y agoThat could be one effect, but another effect could be shrinking of the economy. (eg. cases where someone would have made a good & smart purchase but didn't due to amount of effort involved)
- loceng 14y agoWhy the high value for a constantly growing economy? GDP is the wrong set of metrics to follow anyway because if you do something that causes pollution and harm to people and the environment, it's recorded as a positive increase.
- jfoster 14y agoI'm not sure whether a constantly growing economy is good or bad. Seems very multi-faceted and almost meaningless, really. An economy could be growing or shrinking for so many good or bad reasons. I think the point we're making is that if people couldn't make the transactions that they wanted to make, it would definitely shrink. That feels like a bad reason for why an economy should shrink.
- loceng 14y agoAgreed.