When Entrepreneurs Meet: The Collective Governance of New Ideas

A book published with World Scientific.

When Entrepreneurs Meet: The Collective Governance of New Ideas challenges our understanding of how entrepreneurs crystallize opportunities surrounding new technologies. While innovation is the fundamental driver of growth and prosperity, how the earliest stages of entrepreneurship are governed remains elusive. This book creates a new, institutional approach to understanding entrepreneurship before emphasizing how entrepreneurs create governance structures to coordinate new knowledge resources.

Rather than the conventional view that entrepreneurship happens inside firms, this unique transaction-cost economics analysis of entrepreneurship suggests it might begin earlier in hybrid, polycentric self-governance structures, including the innovation commons. Allen explores and analyses various examples of these structures, including hackerspaces and the institutions coalescing around the development of the blockchain economy, along with the dynamics of how those institutions might collapse into firms. This new understanding of the entrepreneurial governance problem is also connected to contemporary questions about the purpose, scope, and application of innovation policy.

Book Contents

  1. Governing Entrepreneurial Discovery
  2. The Early Stage Entrepreneurial Problem
  3. Beyond Entrepreneurial Firms and Markets
  4. The Private Governance of Hackerspaces
  5. Developing the Blockchain Cryptoeconomy
  6. Rethinking Innovation Policy
  7. Conclusion

 

The New Technologies of Freedom

Book published with the American Institute for Economic Research (with Chris Berg and Sinclair Davidson).

We are on the cusp of a dramatic wave of technological change – from blockchain to automated smart contracts, artificial intelligence and machine learning to advances in cryptography and digitisation, from Internet of Things to advanced communications technologies.

These are the new technologies of freedom. These tools present a historical unprecedented opportunity to recapture individual freedoms in the digital age – to expand individual rights, to protect property, to defend our privacy and personal data, to exercise our freedom of speech, and to develop new voluntary communities.

This book presents a call to arms. The liberty movement has spent too much time begging the state for its liberties back. We can now use new technologies to build the free institutions that are needed for human flourishing without state permission

The New Technologies of Freedom is part of a joint project between the RMIT Blockchain Innovation Hub, an academic research centre based at RMIT University in Melbourne Australia, and the Mannkal Economic Education Foundation. Mannkal’s mission is developing future free market leaders. Mannkal promotes free enterprise, limited government and individual initiative for the benefit of all Australians.

Book Contents

  1. Introduction
  2. Cryptocurrencies and the State
  3. Blockchains and Smart Contracts
  4. Artificial Intelligence and Adversarial Liberty
  5. Freedom of Speech in the Digital Age
  6. The Future of Privacy
  7. Special Jurisdictions and Cryptodemocracies
  8. Technology for Better Institutions in Poor Countries
  9. Conclusion

 

Unfreeze: How to Create a High Growth Economy After the Pandemic

Book published with the American Institute for Economic Research (with Chris Berg, Sinclair Davidson, Aaron M Lane and Jason Potts)

We spell out the policy settings necessary for the rapid adaptation and market re-coordination that is required to resuscitate the economy. We explain why a return to business as usual is simply not enough to get everyone working again. A period of high growth prosperity will be imperative to deal with the costs of the freeze. This book tackles the tough questions and fills some of the current void of ideas and thinking about economic recovery. We develop a framework and principles for an institutional re-build, presenting a path to recovery based on the ideas of private governance, permissionless innovation, and entrepreneurial dynamism.

Book Contents

  1. Introduction
  2. The Public Health Crisis
  3. The Economic Crisis
  4. The Need for a Square Root Recovery
  5. Thawing a Frozen Economy
  6. How to Achieve High Economic Growth
  7. The Way Forward

Reviews

“Economies are not like video games that can be paused and then unpaused with no effect. Freezing an economy causes systematic problems, and unfreezing it requires systematic solutions. This book is a much needed well-researched study on what it will take to get the world up and running again.” ~ Jason Brennan, Georgetown University

Cryptodemocracy: How Blockchain can Radically Expand Democratic Choice

Book published with Lexington (with Chris Berg and Aaron Lane)

A cryptodemocracy is cryptographically-secured collective choice infrastructure on which individuals coordinate their voting property rights. Drawing on economic and political theory, a cryptodemocracy is a more fluid and emergent form of collective choice. This book examines these theoretical characteristics before exploring specific applications of a cryptodemocracy in labor bargaining and corporate governance. The analysis of the characteristics of a more emergent and contractual democratic process has implications for a wide range of collective choice.

Book Contents

  1. Introduction
  2. Technologies of choosing
  3. A framework for institutional collective choice
  4. Delegating the vote
  5. Bargaining and exchange in a cryptodemocracy
  6. Cryptodemocratic corporate governance
  7. Cryptodemocratic labor unions
  8. The future of a cryptodemocracy

Reviews

“The problem of democracy is that it simultaneously invests power in the people while removing any incentive to use their power wisely. Cryptodemocracy is a thorough and rigorous investigation into an innovative solution: Turn votes into a kind of tradeable property right and allow voting markets. New blockchain technologies allow us to overcome the problems of older voter market proposals. This is a book that deserves to be widely read and discussed—and we owe it to ourselves to experiment with its suggestions.”
— Jason Brennan, Georgetown University and author of Against Democracy

“Public choice theory has now ossified around the conventional practices of voting and legislation. In this volume, Darcy Allen, Chris Berg, and Aaron Lane show how that ossification might be transcended by bringing ideas from blockchain technology to bear on democratic governance. While the authors recognize that they have not written the final word on this topic, they have surely created a template that will provide analytical points of departure for pursuing political economy in new directions.”
— Richard E. Wagner, George Mason University

“We stand on the edge of revolution not just in the way democracy works, but in the very idea of what democracy can be. Blockchain technology can immediately solve all the problems of voter fraud, low turnout, and expensive recounts, while expanding the ability of citizens to delegate their votes and register their views on important topics that are now decided behind closed doors. This landmark book is the first thing I’ve seen that understands the potential, both benefits and risks, of the cryptodemocracy on the horizon — a turning point in the literature connecting political science and technology.”
— Michael C. Munger, Duke University

Australia’s Red Tape Crisis: The Causes and Costs of Over-regulation

A co-edited book with Connor Court (co-edited with Chris Berg)

Red tape costs the Australian economy as much as $176 billion a year. Governments create and enforce thousands of regulations on our workplaces and our communities. These rules slow and prevent businesses forming, people from flourishing, new technologies from being adopted, and hold back Australia’s global competitiveness. Australia’s Red Tape Crisis is an exploration into the economics, politics and culture of over-regulation. How should we structure our federation to achieve reform? Why should political responsibility sit with the elected? Does Australia have a deep desire for a federal bureaucracy? What is the future of red tape reduction policies? Together, the contributions of economists, philosophers, politicians and lawyers help define a path for overcoming Australia’s red tape crisis.

Book Contents

  1. Introduction (Darcy Allen and Chris Berg)
  2. Regulation in a small open economy (Chris Berg)
  3. The big picture (David Kemp)
  4. Australia’s economic malaise (Michael Potter)
  5. Some (micro)economics of regulation (Sinclair Davidson)
  6. The politics of red tape (Georgina Downer)
  7. A regulatory culture? (Matthew Lesh)
  8. 1901: Federation as bureaucratisation (William Coleman)
  9. Red tape: Tethering Australia to the world (Greg Melleuish)
  10. Environmental regulation and red tape (Daniel Wild)
  11. Housing affordability and red tape (Ashton de Silva)
  12. Over-criminalisation and red tape (Andrew Bushnell)
  13. Over-regulation in public sector services (Aaron M. Lane)
  14. Red tape reduction: A new approach (Darcy Allen)
  15. Regulation and technological change (Darcy Allen and Chris Berg)