Scott Aaronson on building a 'PageRank' for (eigen)morality and (eigen)trust - "Now, would those with axes to grind try to subvert such a system the instant it went online? Certainly. For example, I assume that millions of people would rate Conservapedia as a more trustworthy source than Wikipedia—and would rate other people who had done so as, themselves, trustworthy sources, while rating as untrustworthy anyone who called Conservapedia untrustworthy. So there would arise a parallel world of trust and consensus and 'expertise', mutually-reinforcing yet nearly disjoint from the world of the real. But here's the thing: anyone would be able to see, with the click of a mouse, the extent to which this parallel world had diverged from the real one." [more inside]
Networks of the Hanseatic League - The Hanseatic League was a late-medieval network of economically largely independent long-distance trade merchants which was based on trust, reputation and reciprocal relations. The informal cooperation among its members kept transactional, informational and organizational costs low, allowing the Hanse merchants to make good profits from the long-distance trade between the Baltic and the North Seas. Thanks to personal and institutional links with confederations of towns, the Hanse merchants were initially able to strengthen their international position of power. Since the late 15th century, however, the transaction costs of long-distance trade increased as a result of growing exclusivity and formalization efforts in the Hanseatic league. Moreover, changes in the European economic structure, triggered by the discovery of America, and internal conflicts ultimately led to the disintegration of the Hanseatic networks.
Start Your Own Currency - "In the Catalonia region of Spain, a restaurant and a community garden are part of an experiment in alternative cash--they are accepting a home-grown currency called the Eco as well as the Euro." [viz. gated article (Google link), cf. The Wörgl Experiment]
Trust, Coordination Technology* & The Experience Economy - "It could be that the nature of technological change isn't causing the slowdown** but a shift in values.*** It could be that in an industrial economy people develop a materialist mind-set and believe that improving their income is the same thing as improving their quality of life. But in an affluent information-driven world, people embrace the postmaterialist mind-set. They realize they can improve their quality of life without actually producing more wealth." (via mr) [more inside]
The Birth of Sharing Law and the Rise of Co-ops - "A new sharing economy is emerging — but how does it fit within our legal system? Time for a whole new field of cooperation law." (via wc)
What if our economy was not built on competition? Nobel Prize winner Elinor Ostrom talks about her work on cooperation in economics. [more inside]