04 May 2007

Open Trading

One of the important benefits that flows from openness is that it allows decisions to be made on the basis of verifiable information. This allows "good" to be preferred, and "bad" deprecated (where "good" and "bad" would vary according to context and even personal viewpoint). That is, it allows a Darwinian natural selection to take place.

The results in the world of software are clear to see, but what's interesting is the extent to which it might be applicable in other fields.

Here's an interesting example:

Products would be tagged when they are made and further information added at each point in the production process, for example, how much the item cost the trader and how much it was sold on for. "You could work out whether the traders along the chain have been paying their workers a decent wage by looking at the profits they are reporting," says Light.

Fair trade based on facts, not faith. (Via weaverluke.)

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