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 text Join economist Peter Boettke 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, Boettke reveals why understanding transaction costs is essential for navigating the complexities of modern economies. We also explore the evolving...
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...
