General Welfare

“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”

The U.S. Constitution: Preamble (1787)

“Private institutions may arise to take advantage of the potential increases in welfare which can accrue to all parties.”

George A. Akerlof, “The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism” (1970)

There are significant economic costs to dishonesty: first order losses from direct fraud, and higher order losses from driving honest business out of the market.

AI has lowered the marginal cost of deception to near zero. The institutions which historically protected consumers, businesses, and governments from fraud are failing. First order losses are measurable and at least a $1T problem. [1][2][3][4]

A new economic mechanism is needed to restore transparency and trust in markets. To be effective, this mechanism must operate on the frontier of technology and effectively transfer risk away from buyers.

General Welfare is building this system. Join us.