Markets as Multi-Agent Constraint Stabilizers

Function in corpus

Large-scale stabilization without central authority.

Details

• Key move: Responsibility, liability, and risk ownership can persist after authority-bearing justification has disappeared, but they cannot preserve alignment in the authority-bearing sense. • Corpus role: Completes the governance conceptual framework. • Scope note: The governance arc needed to close the conceptual gap between structural authority and legal/institutional accountability mechanisms.