Decentralizing Markets Is More Important Than "Freeing" Them by pgcrypto

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money · @pgcrypto · Jul 5 '17

$0.17

Decentralizing Markets Is More Important Than "Freeing" Them

![financial-equalization-1015294_640.jpg](https://steemitimages.com/DQmY3kLtuDyejU54Ab6yzi5YT4AqVJCiRWqM8chhaD2mGEb/financial-equalization-1015294_640.jpg)

Instead of focusing on whether a market is “free” or not, we need to start thinking about the degree to which a market remains centralized or decentralized. The feud between capitalism and socialism boils down to the role of centralized powers in a sustainable economy. Socialism tends to embrace centralization while capitalism fights to "free the markets," which many capitalists see as a form of decentralization but often has no such effect because the freedom of markets allows for the freedom to corrupt markets through regulatory capture. 

To the extent that consumers can only buy what businesses produce, and that businesses can only (legally) produce what governments will allow, the freedom of markets can only be a half-truth. We often mistake the freedom to do business with the relative freedom of the individuals involved in doing business. If freedom is power and absolute power corrupts absolutely then why should we believe that the individuals lucky enough to be freed by capitalism first won't become as corrupt as any centralized socialist power centers? Power lends freedom but more importantly, power requires responsibility.

A sustainable economy requires maintenance, and that responsibility falls on all of us proportional to the power we have within it. Decentralized systems afford us a sort of luxury in that we don't have to worry as much about startup costs and gaining a foothold in an industry because once we understand the incentives that align different economic systems and figure out how to reproduce them in a decentralized manner the institutions supporting the foundations of the industry will adopt them or perish. It's not about subversion; just creating secure, legal systems tapped into the "free" market that have a decentralizing effect.

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👍 hbhades, pgcrypto, bola, semillabesada, znaffe, therussianmonk, obinnamadu, prashant

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@andyx · Jul 5 '17

great post! i like photo!

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@semillabesada · Jul 5 '17

interesting reading!

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@therussianmonk · Jul 5 '17

Very informative post. I agree that the platitude of saying "free markets" will only replace the power structure at the top, but a decentralized system will positively benefit us all.

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@znaffe · Jul 5 '17

$0.04

Interesting read, thanks for sharing!

I generally think there is too much BS going around when people are either branding something as "socialism" or "capitalism". I think that it would be way more beneficial if people were able to discuss ideas and thoughts on their own merits and not what idealism might be associated with them.

Decentralisation is in my opinion a good idea, especially when coupled with transparency. In traditional economics the most important requirement to have a functioning market is that everyone has full information (transparency).

This is also why "blockchain tech" used behind closed doors won't really matter much and will not bring about any revolution. Bitcoin is great because blockchain and transparency comes together to form a great system. Removing one of these traits automatically diminishes the value of the other.

My two cents.

👍 pgcrypto, znaffe

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