Thanks for the fair point, Johannes. I am not aware of a systematic analysis. I have quickly asked Gemini, but did not find the answer satisfying. In any case, technological development requires coordination, and coordination often requires technological develoment, so they cannot be analysed separately. I believe what plays the least role in solving externalities is changes in personal consumption, although the 1st adopters of a new technology still play an important role in driving their cost down (in agreement with Wrigh’s Law).
I agree that social dilemmata are not, by and large, solved through individuals spontaneously acting differently in isolation.
I think a fairer title of the piece could have been “economics needs more progress studies and more social science” given the vast differences in how well societies across time and space are solving coordination problems mediated (if not explained) by differences in institutions, norms, laws, etc.
The basic functioning of society—the most important coordination problem of all—varies widely across locales with the same technology.
Thanks for the fair point, Johannes. I am not aware of a systematic analysis. I have quickly asked Gemini, but did not find the answer satisfying. In any case, technological development requires coordination, and coordination often requires technological develoment, so they cannot be analysed separately. I believe what plays the least role in solving externalities is changes in personal consumption, although the 1st adopters of a new technology still play an important role in driving their cost down (in agreement with Wrigh’s Law).
Thanks Vasco!
I agree that social dilemmata are not, by and large, solved through individuals spontaneously acting differently in isolation.
I think a fairer title of the piece could have been “economics needs more progress studies and more social science” given the vast differences in how well societies across time and space are solving coordination problems mediated (if not explained) by differences in institutions, norms, laws, etc.
The basic functioning of society—the most important coordination problem of all—varies widely across locales with the same technology.
Agreed!