Adam Smith favoured local market exchanges because of Tacit Knowledge. Explaining our needs and wants is difficult. Conveying that information up a chain of command without it breaking even harder. When problems are scaled, they are also abstracted. We use categories and prejudices to create theoretical ideas of who people are, and what they want. The best way to find out what someone wants is to ask. Not in a survey. Not even in a direct question. Ask by being part of the community. Honesty is time spent. Instead of decisions being made in a board room, based on crude scribbles and interpretations… bottom-up decisions release information. To create value from the bottom up, you don’t need to have all the information. You just need two parties and an agreement. All businesses start with a who. Who starts at the bottom. With a name, a face, individuality, and relationships.
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