So a judge of last resort is the last check on the malincentives of markets and networks. Ergo, the veto power of the monarchy (‘chieftain’, ‘headman’, ‘elder’) with incentive to preserve the long term viability of the polity from parasitism or capital consumption.
Source date (UTC): 2019-07-27 14:04:17 UTC
Original post: https://twitter.com/i/web/status/1155116700402180097
Reply addressees: @hasan93r
Replying to: https://twitter.com/i/web/status/1155116216190754817
IN REPLY TO:
Unknown author
@hasan93r I don’t know what monarchy means to you, but in the Hoppeian sense, it means a family with intergenerational interests that prohibit consuming commons. Judges sometimes fail, just as governments fail, just as private markets fail – and the failure is due to the means of deciding.
Original post: https://x.com/i/web/status/1155116216190754817
IN REPLY TO:
@curtdoolittle
@hasan93r I don’t know what monarchy means to you, but in the Hoppeian sense, it means a family with intergenerational interests that prohibit consuming commons. Judges sometimes fail, just as governments fail, just as private markets fail – and the failure is due to the means of deciding.
Original post: https://x.com/i/web/status/1155116216190754817
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