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

There are two kinds of episodes here:
1. For the most part, episodes June-August are weekly, short (<20 mins), and address a few topics.
2. Episodes September-May are longer (1 hour), and monthly, with an interview with a guest.

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

Podcasting since 2023 • 46 episodes

The Answer Is Transaction Costs

Latest Episodes

Curation Bubbles, Verification, and the Splintering of Ideology

What happens when we no longer consume scarce information through trusted, verified institutions, but instead through an abundance of unbundled content without context or curation? John Green, rising star in political science from Duke Universi...

March 25, 2025 • Season 2 • Episode 20 • 56:55

The Socialist Generation Debate: Boettke

Join economist Peter Boettke as he discusses how transaction costs impact market efficiency and our everyday decisions. We delve deep into historical examples, particularly the Soviet Union, to highlight the consequences of centralized pl...

February 25, 2025 • 1:05:12

Transaction Costs and Constitutions: India's Balancing Act, with Shruti Rajagopalan

What if transaction costs could shape entire political and economic systems? Join us for an insightful discussion with Shruti Rajagopalan, a senior research fellow at the Mercatus Center, as she takes us through her fascinating journey from the...

January 28, 2025 • 1:03:51

Political Capitalism and the Power of Elites: Randall Holcombe

This episode explores the intersection of democracy and capitalism, focusing on the concept of political capitalism and its relation to cronyism. Randall Holcomb discusses transaction costs, charismatic leadership, and critiques the idea that d...

December 24, 2024 • 1:02:16

Prison Gangs and Governance: David Skarbek

Curious about how the world of prison economics operates? Get ready to uncover a hidden universe with our guest, David Skarbek, a leading voice in political economy. David takes us on a captivating journey from his early days in construction to...

November 19, 2024 • Season 2 • Episode 41 • 1:01:27

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Fan Mail

I was listening to the podcast and a specialist on COMECON was mentioned during the introduction. I was curious, what is their name? Thanks, Daniel S

Annapolis, Maryland