Are Transaction Costs Scaling Sublinear to Network Size?

Theoretical Physicist Geoffrey West joins me for a multi-episode series exploring his excellent book "Scale: The Universal Laws of Life, Growth, and Death in Organisms, Cities, and Companies."

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GUEST
Geoffrey's Book: https://www.amazon.com/dp/B010P7Z8J0/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1
Geoffrey's Profile: https://www.santafe.edu/people/profile/geoffrey-west

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:

OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 Sub-Linear and Superlinear Scaling
00:05:38 Positive Feedback Loops as Drivers of Super-Linear Scaling
00:08:49 Transaction Costs Scaling Sub-Linear to Network Size and Bureaucracy
00:13:18 What is the Fractal Architecture of Networks Optimizing For?
00:17:43 Structural Integrity as the Limiting Factor on Network Size
00:21:55 Hydrodynamics and Gravity as the Limiting Factors on Organism Size
00:26:25 The Self-Regulation of Human Population Growth
00:30:14 Biology is Replete with Self-Limiting Phenomenon: Is Economics?
00:31:43 The Strength of Private Property Rights as Socioeconomic Structural Integrity?
00:35:40 Taking a Physicist’s Perspective on Biology and Socioeconomics…
00:41:47 The Super-Linear Scaling Laws of Cities
00:44:11 The Super-Linear “Social Metabolic Rate” and Open-Ended Growth
00:48:31 What is the Role of the Individual in Scaling Socioeconomic Systems?
00:50:00 NYDIG
00:51:08 All Human Rights are Derivatives of Property Rights
00:56:10 The Inherent Instability of Human Consensus and Human Hierarchies
01:00:24 The Pathologization of Human Hierarchies and Mass-Psychosis
01:02:44 Bitcoin and the Exportation of Social Entropy
01:07:45 In a World Where Property Rights Were Perfected…
01:12:00 Liberalism Used to Mean Low to No Government…

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