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In the early 18th century, if you lived in London and you wanted to slander an opponent or rival, you could head to Grub Street, a slum just north of the city named for a garbage ditch. Amid the narrow lanes teeming with hack writers and failed scribblers, you might find someone like Samuel Boyse — a drunken Irish poet who had fled Edinburgh because of his debts. His specialty, doggerel. He would happily compose you some for a shilling or two.
For centuries, the central challenge of commerce has been the same: How do you get people with different roles, different information, and different incentives to work together toward a common purpose? The answer has almost always involved some form of organizational innovation: new structures that allocate risk, reward, and responsibility in ways the previous generation couldn’t. The history of commerce is also a history of coordination.
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