The Answer Is Transaction Costs

Michael Munger
  • 4,9 (41)
  • SCIENCES SOCIALES
  • CHAQUE SEMAINE
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.....

  1. -4 J

    Certainty, Common Law, and Statutory Law: Todd Zywicki of Scalia Law

    Send us a textTodd Zywicky, professor at George Mason's Scalia Law School, challenges some conventional legal doctrine, taking up the views of Bruno Leone and Friedrich Hayek. What if the legal world has underestimated the power of spontaneous order? Todd's intellectual journey sheds light on how these groundbreaking ideas contrast sharply with the dominant constructivist views shaping contemporary legal thought. Todd offers perspectives on the role of intuition and reasonableness in the cour...

    53 min

  2. 30 SEPT.

    From Law to Legislation: A Natural Process

    Send us a textHave you ever wondered how common law rules and market prices both "emerge"? Inspired by the works of James Buchanan, F.A. Hayek, and Bruno Leoni, Donald Boudreaux explains how decentralized processes can lead to the emergence of effective norms, such as queuing and speeding rules, without the need for top-down legislation. We discuss the significance of individuals spending their own money versus others' and how these incentives impact societal outcomes, highlighting the deep w...

    55 min

  3. 27 AOÛT

    Why Bosses Don't Wear Bunny Slippers: TAITC

    Send us a textEver wondered why firms exist in a market-driven economy? This month's episode promises to unravel this question by diving deep into Ronald Coase's seminal 1937 paper, "The Nature of the Firm." Join me, Mike Munger, as I reflect on our first 16 months of podcasting and share the insights and wisdom that have shaped our journey. You'll gain a thorough understanding of how transaction costs influence economic behaviors and organizational structures, with fascinating examples from ...

    23 min

  4. 20 AOÛT

    Price Gouging or Price Information?

    Send us a textCan high prices during emergencies actually save lives? Using North Carolina as an example, we dissect the economic and legal implications of these laws, exploring the ambiguities in terms like "unreasonably excessive" and the chilling effect on commerce. Discover how artificially low prices can lead to resource misallocation, discourage stockpiling, and hinder the transportation of vital supplies during crises. Allowing higher prices is, perhaps surprisingly, the only way...

    18 min

  5. 13 AOÛT

    All Housing is Affordable Housing

    Send us a textAre housing regulations making affordable homes a pipe dream? We promise you'll gain a deeper understanding of how transaction costs and regulatory hurdles impede new housing development, frustrating both market responses and the dreams of potential homeowners. We'll explore how the very laws intended to protect affordable housing often backfire, pushing developers toward luxury projects instead.Vicki Been; Ingrid Gould Ellen; Katherine O’Regan, 2018. "Supply Skepticism," https:...

    24 min

  6. 6 AOÛT

    We Get Letters!

    Send us a textWhat is it that beach parking lots are actually selling? Why do beer bottles cost more than cans? And just what are costs of the thing, as opposed to the costs of selling or buying the thing? Can you really separate them out?Mass MOCA: "Wilco's Solid Sound" Music Festival https://massmoca.org/event/solid-sound-2024/"To Consumers, ALL Costs are Transaction Costs." AIER, by Michael Munger. https://www.aier.org/article/to-consumers-all-costs-are-transaction-costs/Yogi Berra "quotes...

    21 min

  7. 30 JUIL.

    Shibumi! Legit Idea, or Shady Dealings?

    Send us a textYou can throw shade, but can you own the idea of shade? Shibumi's sunshade has become an essential part of the coastal landscape, but that has sparked some fierce legal battles. We'll talk patents, beginning with the evolution of shade solutions from caveman ingenuity to Shibumi's wind-powered marvel. Plus, you'll get the inside scoop on the recent lawsuit where Shibumi defended its designs against Beach Shade LLC, demonstrating the high stakes of protecting intellectual propert...

    23 min

  8. 23 JUIL.

    Slavery, Indentured Servitude, and the Problem of Financing Education

    Send us a textNot everyone realizes that the modern financial system has enabled us to end historical practices such as indentured servitude and apprenticeship. This episode uncovers how financial systems tackled market failures and transaction costs, drawing on insights from Jeffrey Hodgson's "The Wealth of a Nation: Institutional Foundations of English Capitalism." We'll explore the evolution of borrowing against future earnings and how modern financial institutions have streamlined p...

    26 min
Tout afficher (41)

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À propos

"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.....

Informations

  • Création
    Michael Munger
  • Années d’activité
    2023 - 2024
  • Épisodes
    41
  • Classification
    Tous publics
  • Copyright
    © 2024 The Answer Is Transaction Costs
  • Site web de l’émission
    The Answer Is Transaction Costs

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