2026-01-16 21:39:32

Ann Rand's reflections on bureaucratic systems and commerce are worth re-examining. She believes that what truly drives economic growth is not cumbersome administrative procedures, but vibrant commercial activities in the market. Bureaucratic systems are often hierarchical and inefficient, with each layer increasing the operational costs for businesses; in contrast, commercial entities in free markets, due to clear incentive mechanisms, can respond quickly to market demands and create more value. This idea is especially enlightening for today's decentralized markets and DeFi ecosystems—bypassing intermediaries and reducing unnecessary layers often allows market participants to interact directly, unlocking greater efficiency.

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OldLeekNewSickle

· 2h ago

Basically, the fewer intermediaries, the more profit. This logic is truly brilliant in DeFi. The people who directly take transaction fees are laughing to death.

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GasFeeDodger

· 13h ago

That old lady Land is right, bureaucratic institutions are just vampires, exploiting layer after layer... DeFi has been doing this for a long time.

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GateUser-26d7f434

· 13h ago

Rand's theory does have some flavor when applied to DeFi, but in reality... layers of approval block you, and transaction fees can eat into profits. It's really frustrating.

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DeFi_Dad_Jokes

· 13h ago

Leland's theory is simply brilliant when applied on-chain; removing middlemen to earn a profit really can save money. That bureaucratic approach of adding layers and increasing complexity is truly annoying; DeFi is here to disrupt the scene. Direct on-chain interaction is indeed fast, but you also have to be careful of getting rug pulled... High market efficiency is great, but the worry is no one is regulating it. The idea of a free market sounds great, but in practice, it's still about code is law. If Leland saw the current MEV and sandwich attacks, I wonder what he would think. Removing intermediaries sounds wonderful, but what about contract vulnerabilities? Efficiency is truly unleashed, but the risks are also maximized. This mindset is correct; DeFi still needs to grow gradually. Fewer layers definitely save money, but regulatory gaps are a big problem too.

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DefiEngineerJack

· 13h ago

aight so the bureaucracy angle is solid but here's what actually™ matters—the gas cost externality nobody talks about. even defi's "direct interaction" model has hidden layers, just diff ones. protocol fees, mev, validator ordering... it's not frictionless lmao

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