INSTITUTION TO DISTRIBUTION

Philipp Kristian Diekhöner

Chapter 7 in RESET:Rethinking Our World and Creating a Different Future, 2021, pp 85-97 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Transaction costs are a fact of life in the global economy. They are the price we pay for the connections that enable us to trade. As such, they’re a central target area for digital solutions. Decentralisation and simplification, even of fundamental value chains, can address several challenges of transaction costs and possible inequalities. It may allow smaller, more remote, and less economically influential catchments to attain a similar standard of living as bigger urban areas by balancing their participation in global trade with greater self-sufficiency. We should take this as an opportunity for more equal and harmonious global trade and benefit from reasonable degrees of communal autonomy. As a result, we will likely realise many savings through reduced transport efforts, preserve local cultures and traditions through a preference for local and regional sourcing where possible, and eliminate quality and waste related issues in the process. Such a departure from purely industrialist thinking is likely to boost equality, reinvigorate disadvantaged areas, balance economic and social well-being, and ensure greater resourcefulness in the way we meet our needs and harvest required resources with sustainability in mind…

Keywords: Innovation; Future of Work; Future; Futurism; Trends; Transformation; Corporate Innovation; Digital Transformation; Trust Economy; Sharing Economy; Deep Technology; Future Economy; Startups; Digital Trust; Digital Economy; Digitisation (search for similar items in EconPapers)
JEL-codes: G34 L2 L26 M1 O3 (search for similar items in EconPapers)
Date: 2021
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