The Missing Constitution of Markets

MECMarket Architecture

Diagnosticstests the theory against one real system

—working paper

6topics

Markets fail not because participants are malicious but because nothing in their architecture requires them to preserve what they consume.

The long-form argument for this work still lives on the existing explainer at /explainer/market-exchange-constitution. This page carries the abstract and the corpus metadata — the frame the argument would move into unchanged.

Key termsMarket Exchange Constitution · Proxy Optimisation · Substrate Blindness · Temporal Externalisation · Exchange Semantics · Regenerative Markets

In the canonprobetests the theory against one real system

No paper yetThe Missing Constitution of Markets: Why Exchange Systems Fail to Regenerate Value is a working paper with no SSRN record yet. Said plainly rather than linked to a record that does not exist.

Nearby in the corpus

Also in Diagnostics

The works either side of this one in the canon order — what it builds on and what builds on it.

Why Institutions ForgetWIFTemporal Architecture→Speaking in DecadesPPP-LHCPublic Finance→The Accounting Blind SpotPPP-ABSPublic Finance→

Where to go next

Three directions out

Where to go once you have the argument — the paper it comes from, the instrument that measures it, or the next thing it depends on.

Measure itinstrumentsRun the measurement this argument implies against your own institution.→The library65 worksEvery work, by layer, with the argument and the paper side by side.→In the field2 liveWhere the argument has met real money and published dates.→