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Essay Argues Money and Bureaucracy Are Outdated Coordination Systems Unable to Solve Modern Crises

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A DEV Community essay contends that humanity has coordinated civilization for millennia through two mechanisms, money and bureaucracy, and that today's crises stem from these systems' design rather than from failures of will. The author frames the problem as systems engineering, noting that human cooperation norms like family loyalty and reputation only work reliably within groups of about 150 people. The piece argues that a price compresses many dimensions, such as carbon emissions and labor conditions, into a single number, a limitation market reform cannot fix. It also critiques Friedrich Hayek's defense of markets, claiming that prices transmit too little information for the self-correction he described. The essay further argues that compound interest concentrates money among fewer holders, which shrinks the circulation of information the system depends on.

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Essay Argues Money and Bureaucracy Are Outdated Coordination Systems Unable to Solve Modern Crises · ShortSingh