PWL Feb 2023: "Understanding of the Process of Change in Economic History"

The Role of Transaction Costs in Douglass North’s Understanding of the Process of Change in Economic History, ready by Shripad Agashe

The Cost of Trust or Mistrust

If you look at any activity, there are subtle motivations and tradeoffs which direct our actions. The idea of transaction cost for a given exchange is such a subtle backdrop for many of our seemingly irrational actions. From farmers going to a loan shark instead of banks to the rise of nfts and tokenization. The imporatance of this idea can be guaged from the fact that the pioneer of this field of study was awarded a nobel prize in 1961. The DevOps movement as the name suggests leveraged this idea to make software delivery more effective. Unfortunately as it happens in most cases, DevOps became all about tools and buzz words and the original intent was lost.

So how does this apply to DevOps thinking? As John Willis in his famous talk on DevOps says, its about Culture, Culture and Culture. In this reading session, we will peel the ideas from the original paper on Transaction Costs and draw parallels to the DevOps and the software industry. Shripad Agashe ( will conduct the reading.

The paper can be found at the link here -

The Zoom link for the Session -

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What was the last paper within the realm of computing you read and loved? What did it inspire you to build or tinker with? Come share the ideas in an awesome academic/research paper with fellow engineers, programmers, and paper-readers. Lead a session and show off code that you wrote that implement… more