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.....
The Answer Is Transaction Costs
Middlemen: From Mancgere to Amazon
Does Starbucks have surge pricing?
What is a Mancgere?
Should the Stomach go to the Wheat, or should the Wheat come to the Stomach?
Plus, the TWEJ!
Some things discussed this week:
Michael Munger, "Market Makers or Parasites" https://www.econlib.org/library/Columns/y2009/Mungermiddlemen.html
Frederic Bastiat, WHAT IS SEEN AND UNSEEN. https://www.econlib.org/book-chapters/chapter-chapter-1-what-is-seen-and-what-is-not-seen/
Frederic Bastiat, "The Negative Railroad." https://www.libertarianism.org/publications/essays/negative-railroad
David Friedman, HIDDEN ORDER. http://ndl.ethernet.edu.et/bitstream/123456789/2041/1/47.pdf.pdf
If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com !
You can follow Mike Munger on Twitter at @mungowitz