Many men and institutions act autistically because of a problem of coordination. Economic bubbles and inflationary money stem from the prisoner's dilemma. The Euro is an example of monetary socialism. Before the Euro, each government had to take on the consequences of printing money. Now, any country has an incentive to print money and make the other countries bear the inflation. Hence the galloping inflation, and the discontentment of governments whose capacity to print money is limited by the central bank.

It is what prevents the middle-class from ruling: the ruling caste is often a minority united by a cohesion mechanism (such as religious tribalism for the Jews or bioleninism for low-value people). The evolution in ruling castes follows the evolution in cohesion technology.

Free markets rely on the prisoner's dilemma to provide low prices. Indeed, any entrant would have the opportunity to set a price closer to the price of production and reap the sales.

Is there a solution to the prisoner's dilemma? One would be a coordination protocol through crypto contracts.

Let us imagine two companies incorporated with (crypto-)shares. Each one can calculate the value variation in case of cooperation and defection, and exchange shares in a way such that they recover their losses in case of defection. Decentralisation of crypto-shares allows the betrayed company to bank the gains of the other company in all cases.

To conclude, we want to share a thought on this:

If you find it cheaper elsewhere, we will match it.

That is brilliant. It seems to be a message directed to customers signalling floor prices, while it is directed to sellers signalling ceiling prices. Let us study how that works.

Let us imagine we are the main seller. We have money reserves. Even if our price is higher, our customers will still buy from us, since we refund the difference. Therefore, our competitors have an incentive to increase their prices to match ours. Prisoner's dilemma solved.

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