The Boardroom

Modelling the EU economy as an ecosystem of contracts

Dr. Harald Stieber Senior Economist European Commission

Senior economist Harald Stieber speaks about the relevance of contracts in today’s society and bout the potential of the Open Trust Fabric project for policymaking. Harald elaborate on the core values of the study and gives the vision behind it. While digitalisation and automation continue to transform rapidly user experiences, justice and consumer policies accompany the migration from a paper-based contracting environment to an increasingly digital, computer code driven contracting environment. Not enough has been done so far to ensure that we preserve our ability to assess and evaluate our policies in this new environment. To preserve this capacity in the future is a core motivation of the present project.

The role of relational contracts in today’s society

Prof. Oliver Hart Nobel Prize Winner, Economics

Sally Guyer CEO World Commerce & Contracting

When the European community commissioned a project that looked at the ecosystem of contracts as the basis for modelling economies, it was clear that relational contracts were gaining in legitimacy. So, our aim with this video is to tackle the problem to better understand how this is possible and in what ways relational contracts will impact our lives.

Here are a few questions that were asked during the interview:

Will relational contracts take over as the only kind of contract in the future?
What’s the difference between relational contracts and incentive-based contracts?
Why NOT to adopt relational contracts?
Can relational contracts remove the need for governments and non-profits?

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