The Rules
It would be naive to think that self-interested competition always produces spontaneous order. Competition can also bring destructive results, decay and collapse. For example, if stock markets were unregulated you'd soon see corruption eating away at market efficiencies until nobody trusted the market enough to invest. A system of rules is often required for societies to produce sustainable value from spontaneous order.| Overview: Spontaneous Order | ||
Type | ||
Definition | The creation of meaningful structure by independent entities acting in self interest without coordination. | |
Value | Potential to solve problems that are far too big and complex for centralized planning or orchestration. | |
Related Concepts | ||
