Send us a text Middlemen are not parasites but essential "engineers of exchange" who create value by connecting buyers and sellers who might never find each other otherwise. • The word "monger" (and Munger) comes from a Saxon root--Mancgere-- meaning trader or merchant • Middlemen historically seen as parasites for buying cheap and selling dear without improving products • 11th-century "mancgere" traders defended their value despite not changing the goods they sold • RA Radford's 1945 POW ca...
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Send us a text Middlemen are not parasites but essential "engineers of exchange" who create value by connecting buyers and sellers who might never find each other otherwise. • The word "monger" (and Munger) comes from a Saxon root--Mancgere-- meaning trader or merchant • Middlemen historically seen as parasites for buying cheap and selling dear without improving products • 11th-century "mancgere" traders defended their value despite not changing the goods they sold • RA Radford's 1945 POW ca...
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...
The Answer Is Transaction Costs
Send us a text Middlemen are not parasites but essential "engineers of exchange" who create value by connecting buyers and sellers who might never find each other otherwise. • The word "monger" (and Munger) comes from a Saxon root--Mancgere-- meaning trader or merchant • Middlemen historically seen as parasites for buying cheap and selling dear without improving products • 11th-century "mancgere" traders defended their value despite not changing the goods they sold • RA Radford's 1945 POW ca...
