Tuesday, April 28, 2015

The Role of Markets In Modular-Finance

"In economies that lack markets, individual calculations of value are necessarily imprecise, and exchanges of goods and services are generally inefficient Markets offer two important benefits. First, they centralize and simplify trade, thereby reducing the cost of exchange, and increasing the rewards to the designers of new artifacts. Second, they give designers a valuation technology, that is, an easier way to calculate the values that others will place on a new design for an artifact."

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