Market Exchange Constitution

Markets don't naturally create public value. They can—but only when pre-governing conditions are architecturally embedded.

Standard PPP models assume markets can be 'harnessed' for public purposes through contracts and regulation. But markets optimise for what they measure. Without constitutive architecture that embeds public purpose into market structure itself, extraction will dominate creation.

This paper identifies the four pre-conditions that must be satisfied before market exchange can become regenerative rather than extractive.