The Answer Is Transaction Costs

24
Social Sciences #56

"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.....

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  • Vance Ginn
    Munger Transactions Are Best
    You don’t want to miss this show with Munger making concise arguments for the importance of transaction costs in all we do.
  • johnson bros
    DIAMONDS in a coal mine
    Nothing against coal mines, but how great it’s been to run across this gem while regularly exploring my staple listenings. Rewarding
  • BrevityRules
    Audio quality in this week’s show was bad
    I like the show but the audio was very low grade and it didn’t provide for good listening. I’m sure the transaction cost of good audio is worth bearing.
  • nickname taken 102938
    A Gem
    Munger has that unique ability to translate his expertise in political economy into lessons for policymakers and ordinary citizens alike and make you smile while he does so. Essential listening.
  • Joey Ken
    Love this guy
    I consume everything he puts out including his amazing interviews on the Econ talk podcast. He is great at explaining things in a simple way which helps Someone like me with no Econ background (except the aforementioned podcast.)
  • HDieterD
    Too fun to be price theory, and yet that and more
    A great approach to analyzing complex economic interactions because it might be more entertaining that educational.
  • Traviseeeee
    At Last
    After years of listening to and enjoying Munger on Econtalk, I’m glad to find a stand-alone podcast. The content is deep, the pace is fast —sometimes requiring a second careful listen for the listener of average intellect (myself included). Keep up the fine work!
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