[P2P-F] Falling transaction costs

[Michel Bauwens]

Tom, perhaps you could present this essay on our p2p blog?

On Mon, Oct 24, 2011 at 9:15 AM, Sandwichman <lumpoflabor at gmail.com> wrote:

> People may be interested in the "conventional economic theory" about
> transaction costs. I've done a bit of work on this in response to reviewer
> comments on a paper I wrote. The reviewer suggested that I should
> contextualize  my analysis (of working time and productivity) as to how it
> related to mainstream theory. This struck me as somewhat odd because I am
> dealing with what I have already identified as a gaping hole in conventional
> theory. Be that as it may, I traced the broken threads of mainstream theory
> back to where they were cut and I think the result is a blistering, albeit
> calmly presented, indictment of the mainstream.
>
>
> http://ecologicalheadstand.blogspot.com/p/problem-with-problem-of-social-cost.html
>
> Essentially, mainstream economic models are constructed on the premise that
> things like transaction costs, overhead costs, external economies and social
> costs are "incidentals" that can be assumed away as a simplification and
> then added back into the equation at a later stage in the analysis. On the
> contrary, these things are central to the economic processes of production
> and exchange in a market economy. Furthermore, this centrality was well
> known to pioneers of neoclassical economic analysis and was a keystone of
> their methodology.
>
> On Sun, Oct 23, 2011 at 5:18 PM, Michel Bauwens <michel at p2pfoundation.net>wrote:
>
>> what I find interesting about it is that it gives an objective grounding
>> to the trend towards distributed ownership.
>>
>> While I'm not opposed to collective pr*operty and obviously not to the
>> commons, I think that distributed individual property of productive forces
>> will be an important part of a future social order, as it extends the
>> contributory logic of p2p to the physical world.*
>>
>> That an individual can freely constitute collective capital by aggregating
>> and disaggregating his own 'citizen share' of the productive forces has
>> everything to do with peer production and the commons, since it opens the
>> possibility of fr*eely creating 'common stock' comm**ons.
>>
>> I h*ave no knowledge of current possibilities of having access to
>> productive forces for free ?
>> *
>> Michel
>> *
>>
>> On Sun, Oct 23, 2011 at 10:49 AM, Karl Robillard <krobillard at san.rr.com>wrote:
>>
>>> Michel,
>>>
>>> Your blog posting of Matt Cropp's ideas about the fall in transaction
>>> costs
>>> states in bold:
>>>
>>>  "THIS IS A MOST IMPORTANT ARGUMENT AND CRUCIAL ASPECT OF THE ‘P2P
>>> Revolution’!!"
>>>
>>> Why do you think it's so important? Currency systems are about tracking
>>> ownership and subjective value perception rather than providing open
>>> access
>>> and accurately tracking production inputs and outputs.  It seems to me it
>>> has
>>> almost nothing to do with open source, the commons, or peer production.
>>>
>>> Why would anyone want to "micro-own" parts of something when they could
>>> get
>>> access to the whole for free?  Matt closes by saying that technology
>>> "could be
>>> paving the way towards the age of the co-operative".  This is history
>>> already
>>> - there is no "could be" about it.
>>>
>>>
>>> -Karl
>>>
>>> _______________________________________________
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>>>
>>
>>
>>
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>
>
> --
> Sandwichman
>
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