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ellierennie.eth
Jun 4

The Slow Price Movement: Web3 & the evolution of market computation

By Ellie Rennie and Jason PottsMarkets are computersIt was FA Hayek (not Salma Hayek) who first explained to economists, in 1945, that markets are computers. What they ‘computed’ was social coordination using price signals. Through the haggling and jostling and bids and asks of trade, markets compute prices that condense a plethora of distributed subjective information into a single observable metric that can coordinate the plans and actions of a very large number of people, who otherwise, wi...
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