So central states excel at investment in ‘catching up’ or ‘standardization’ or ‘reduction of frictions’ and must migrate to strategic private partnership and private operation because private sector suppresses corruption, produces higher returns on capital, and adapts rapidly.
Source date (UTC): 2020-05-09 01:34:19 UTC
Original post: https://twitter.com/i/web/status/1258933283989094401
Reply addressees: @dreadpiratepsl
Replying to: https://twitter.com/i/web/status/1258932851690606593
IN REPLY TO:
Unknown author
@dreadpiratepsl Corps, Govts, States, and Empires excel at imposing standards and suppressing local rents (and transaction costs), producing economic velocity until central rents are maximized and the political system is unable to adapt to shocks, trade route changes, or population pressures.
Original post: https://x.com/i/web/status/1258932851690606593
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