The Answer Is Transaction Costs

"The real price of everything is the toil and trouble of acquiring it."  -Adam Smith (WoN, Bk I, Chapter 5)

In which the Knower of Important Things shows how transaction costs explain literally everything. Plus TWEJ,  and answers to letters.

If YOU have questions, submit them to our email at taitc.email@gmail.com 

And check out the Facebook page, to leave comments and answer comments from other listeners:  https://www.facebook.com/profile.php?id=100092342062186

Finally, a quick note:  This podcast is NOT for Stacy Hockett. He wanted you to know that.....