Coasean Singularity

Description

Via John Robb:

"Firms form to minimize transaction costs (Coase).

AI agents will significantly reduce transaction costs across the entire economy.

If transaction costs decline markedly, the need to create firms would evaporate, necessitating a complete reevaluation of economics and market design as existing corporations dissolve and new markets emerge."

(https://johnrobb.substack.com/p/an-economic-singularity)