Send us a text Join economist Peter Bettke 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 planning versus individual market actions. Through engaging anecdotes and rigorous analysis, Bettke reveals why understanding transaction costs is essential for navigating the complexities of modern economies. We also explore the evolving d...
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Send us a text Join economist Peter Bettke 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 planning versus individual market actions. Through engaging anecdotes and rigorous analysis, Bettke reveals why understanding transaction costs is essential for navigating the complexities of modern economies. We also explore the evolving d...
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 Join economist Peter Bettke 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 planning versus individual market actions. Through engaging anecdotes and rigorous analysis, Bettke reveals why understanding transaction costs is essential for navigating the complexities of modern economies. We also explore the evolving d...
