"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), ...
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Elevate your reading experience with our thoughtfully curated selection of literary treasures. Unleash the power of a good book. 📖🌟 #BookEnthusiast #Books #eBooks #Audiobooks #PDF #Kindle #Mobi #ePub
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Why Bosses Don't Wear Bunny Slippers: TAITC
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Ever 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 thorou…
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Price Gouging or Price Information?
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Can 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 stockpilin…
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Are 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, p…
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What 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 Tr…
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Shibumi! Legit Idea, or Shady Dealings?
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You 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…
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Slavery, Indentured Servitude, and the Problem of Financing Education
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Not 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 Capital…
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Bees, Oranges, and Externalities: The Answer is Transaction Costs
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Bees and Valencia oranges from my family's farm in rural central Florida provide a snapshot of externalities and transaction costs. A local beekeeper wasn't just a boon for our crops but also an illustration of Arthur Pigou's theories on the divergence between supply price and marginal supply price. Real-world practices, such as apple orchard owner…
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Parking Lots, Transaction Costs of the Price Mechanism, and the Pork Pie Fedora Rogue
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20:10
Two seemingly similar parking lots at Wrightsville Beach, North Carolina, couldn't be more different in the emergent behaviors they foster. From the orderly lines of the 85-space lot to the chaotic dynamics of the smaller 19-space circular lot, discover how price rationing, queue formation, and transaction costs play critical roles in these everyda…
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Monkey See, Monkey App! And IP Walks Into a Bar....
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The method of much of social science is "comparative statics." There's an amazing natura experiment going on, after Hurricane Maria changed the environment for the rhesus macaques of Cayo Santiago. Sometimes, you need a simulation to understand something is only obvious after the fact. These primates, known for their fierce competition and rigid hi…
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Baseball, Dollar Dogs, Apple Pie and Transaction Costs
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Why would a baseball stadium limit the number of $1 hot dogs per customer on Dollar Hot Dog Night? Find out as we work on this intriguing question posed by a curious high school student named HJ. Through the lens of transaction costs, we reveal how these promotional events are less about selling hot dogs and more about enhancing the overall (cheap!…
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Dam Shame: It's not easy being government
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I have been interested lately in a paper Bill Keech and I were working on a decade ago, It was called "The Anatomy of Government Failure." Was AC Pigou the first "Public Choice" theorist? There are two transaction costs problems in the background: 1. Information asymmetries and the problem of ignorance 2. Incentive problems and institutional design…
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Corner Crossing Conundrum: Trespassing, Airspace, and Property Rights
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What if crossing a mere corner of private land could land you in legal hot water? This episode tackles the thorny issue of corner crossing, where public and private lands meet at a single point, creating potential trespassing conflicts. We'll dissect Dave Schmitz's insights on the limits of property rights and the Roman law doctrine of ad coelum, w…
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The Riddle is Transaction Costs: That's What the Money is For!
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Can a single $100 bill solve an entire town's debt crisis? This riddle is a window into transaction costs. I rely on Jeffrey Rogers Hummel's insights, adding a few thoughts of my own. And a cool letter: Ever wondered why you haggle for a car but not for your morning Starbucks's coffee? Plus, a book recommendation: Nobel Prize-winning economist Edmu…
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From Commons to Coase and Beyond, With Steven Medema
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What if understanding the hidden costs in every transaction could revolutionize how we see economics? Stephen Medema of Duke University opens up about his academic pivot from computational tax policy to the history of economic thought, weaving in tales of detective-like intrigue and the thrill of uncovering the makers and movers behind economic the…
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Desert Town Dilemmas and the Problem of Property Rights
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We embark on a journey through the lenses of Hume, Smith, and Coase, piecing together the roles of observation and empirical study in shaping our understanding of societal conventions and moral philosophy. David Schmidtz recounts a defining moment from his academic path, sparking a robust discussion on the fusion of economics with moral considerati…
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Caldwell: Hayek's Intellectual Journey
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Come along on a journey through the corridors of economic history and methodology with our esteemed guest, Bruce Caldwell from the Center for History of Political Economy at Duke University. Caldwell's personal voyage, from the nuances of economic methodology to his deep dive into Austrian economics, sets the stage for an enthralling discussion on …
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Making Deals With Shadows: The Economics of Ransomware and Cybersecurity
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The digital realm is rife with invisible threats, and this episode doesn't shy away from the gritty realities of ransomware and the burgeoning industry of cyber insurance. We tackle the conundrum: How do these defensive expenditures impact our economy when they don't actually produce anything tangible? From the early days of cyber insurance to the …
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Current Event: Smart Grids, DERs, and the Economics of Energy
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Unlock the secrets of the energy market evolution with economist Professor Lynn Kiesling, who brings her expertise on transaction costs and the digital transformation of the electricity industry to our table. Our energized discussion orbits around the innovative world of Distributed Energy Resources (DERs), where we explore the shift from consumers…
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Digital Innovation Distilled: Corporate Success Strategies Unleashed
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13 Minutes Ago - FREE READ NOW: https://koleksimajalah900.blogspot.com/?book=B0CP7MTX2K ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Digital Innovation Distilled: Corporate Success Strategies Unleashed By Full Pages. Immerse yourself in a tale of love, loss, and triumph. Your next great read awaits! Don't…
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Chalks: Running with an Olympian, experiences, trials, and tribulations to sustain relevance
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15 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQPWWMHG ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) Chalks: Running with an Olympian, experiences, trials, and tribulations to sustain relevance Renewing relevancy after 70. Volume One, 1st Edition (Chalks: … Exploration, …
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Emprende desde Cero: Una Gu�a Completa para Iniciar tu Startup: Una Gu�a Completa para Iniciar tu
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17 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQS97ZZJ ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Emprende desde Cero: Una Gu�a Completa para Iniciar tu Startup: Una Gu�a Completa para Iniciar tu Startup (Spanish Edition) By Full Pages. Calling all book lovers! My latest cre…
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20 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPC7PTRX ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) How to Pop the Economic Blister By Full Pages. Embark on a journey of mystery and intrigue! Dive into the latest book and discover a world where every page holds a new ad…
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From the lovely Year 2823 Admiring photos from 2023: Moving from nice photos in 2023, to a review
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17 Minutes Ago - DOWNLOAD PDF NOW: https://koleksimajalah900.blogspot.com/?book=B0CQVKCT5X ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) From the lovely Year 2823 Admiring photos from 2023: Moving from nice photos in 2023, to a review of them in the year 2823 By Full Pages. Unlock the secrets within the pa…
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Crea tu curso con Ai: Todo lo que necesitas para convertirte en experto de chatgpt (Spanish Edition)
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15 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQPML23T ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) Crea tu curso con Ai: Todo lo que necesitas para convertirte en experto de chatgpt (Spanish Edition) By Full Pages. Embark on a journey of mystery and intrigue! Dive into…
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No Regrets: What My Dad Tried to Teach Me and Now I Know
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11 Minutes Ago - FREE READ NOW: https://lenteragunungbudeg.blogspot.com/?book=1637352409 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) No Regrets: What My Dad Tried to Teach Me and Now I Know By Full Pages. Discover a world where dreams come alive and possibilities are endless. My book is more than just wor…
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17 Minutes Ago - BOOK NOW: https://koleksimajalah900.blogspot.com/?book=163735245X ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Hi-Five to Winning: Why Winners Win By Full Pages. Unlock the secrets within the pages of my newest release! Join the ranks of readers who have experienced the thrill. Grab your …
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Serviced Accommodation - The Contract Templates, Letter Templates, Guide and Starter Pack You Need
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15 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPQSC9BG ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) Serviced Accommodation - The Contract Templates, Letter Templates, Guide and Starter Pack You Need By Full Pages. Embark on a journey of mystery and intrigue! Dive into t…
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Notes, etc.: Green Black Yellow Radial Gradient Leaf with Black Binding Designer Composition
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20 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPVMZDYP ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Notes, etc.: Green Black Yellow Radial Gradient Leaf with Black Binding Designer Composition Notebook, College Ruled, 110 pages, 7.5' x 9.25' for School, College and Journaling …
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Shock Hemodynamics A Simplistic Overview
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15 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPQWS3Y5 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Shock Hemodynamics A Simplistic Overview By Full Pages. Unlock the secrets within the pages of my newest release! Join the ranks of readers who have experienced the …
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Navigating the Courts: A Comprehensive Guide for Pro Se Litigants
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11 Minutes Ago - DOWNLOAD PDF NOW: https://koleksimajalah900.blogspot.com/?book=B0CPDLFZSK ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) Navigating the Courts: A Comprehensive Guide for Pro Se Litigants By Full Pages. Discover a world where dreams come alive and possibilities are endless. My book is more th…
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English Conversation Lesson Plans (Intermediate-Advanced): ESL Vocabulary, Idioms, Discussion
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11 Minutes Ago - DOWNLOAD PDF NOW: https://koleksimajalah900.blogspot.com/?book=B0CPN3YTBX ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) English Conversation Lesson Plans (Intermediate-Advanced): ESL Vocabulary, Idioms, Discussion Questions Writing Prompts (Teaching English as a Second or Foreign Language) …
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Omicidio nelle Cotswolds: For Upper Beginner to Lower Intermediate Learners of Italian (Italian
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13 Minutes Ago - FREE READ NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPVRC7T6 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Omicidio nelle Cotswolds: For Upper Beginner to Lower Intermediate Learners of Italian (Italian Edition) By Full Pages. Embark on a journey of mystery and intrigue! Div…
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True North: A Handbook for Inspired Living
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17 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQTJDBZC ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) True North: A Handbook for Inspired Living By Full Pages. Discover a world where dreams come alive and possibilities are endless. My book is more than just words on paper � …
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Equitable and Engaging Mathematics Teaching: A Guide to Disrupting Hierarchies in the Classroom
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20 Minutes Ago - BOOK NOW: https://koleksimajalah900.blogspot.com/?book=0883852128 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Equitable and Engaging Mathematics Teaching: A Guide to Disrupting Hierarchies in the Classroom By Full Pages. Unlock the secrets within the pages of my newest release! Join …
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New York Write to Pitch Review of Commercial Novel Writing: Success-Tested Tips, Insights, and
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20 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQDMM162 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) New York Write to Pitch Review of Commercial Novel Writing: Success-Tested Tips, Insights, and Proven Advice From Track-Record Professionals (New York Write to Pitch Nov…
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Think Like a Diamond: From Broken to Brilliant
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11 Minutes Ago - DOWNLOAD PDF NOW: https://koleksimajalah900.blogspot.com/?book=B0CPTYS3C1 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Think Like a Diamond: From Broken to Brilliant By Full Pages. Embark on a journey of mystery and intrigue! Dive into the latest book and discover a world where every page…
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Reiki Energy Medicine: The Yoga of Health and Wellness in Your Hands (Integrative Energy Medicine
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11 Minutes Ago - BOOK NOW: https://koleksimajalah900.blogspot.com/?book=B0CP6QPQH6 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Reiki Energy Medicine: The Yoga of Health and Wellness in Your Hands (Integrative Energy Medicine Practitioner-Teacher) By Full Pages. Unlock the secrets within the pages of …
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The Refractive Thinker� Vol. XXIV Mental Health: Effective Application of Policy and Practice
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11 Minutes Ago - FREE READ NOW: https://koleksimajalah900.blogspot.com/?book=B0CQP67F7Q ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) The Refractive Thinker� Vol. XXIV Mental Health: Effective Application of Policy and Practice By Full Pages. Unlock the secrets within the pages of my newest release! Join t…
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Life in The UK 2024 - Complete Study Guide: Illustrated official course with 21 tests and detailed
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11 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPQB5JR3 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Life in The UK 2024 - Complete Study Guide: Illustrated official course with 21 tests and detailed answers By Full Pages. Discover a world where dreams come alive an…
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LETTERS AND NUMBERS Volume Two: Chapters 4-10 (LETTERS AND NUMBERS Volume Series)
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11 Minutes Ago - BOOK NOW: https://koleksimajalah900.blogspot.com/?book=B0CQTDCQF3 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) LETTERS AND NUMBERS Volume Two: Chapters 4-10 (LETTERS AND NUMBERS Volume Series) By Full Pages. Unlock the secrets within the pages of my newest release! Join the ranks of reader…
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Japanese Sentence Practice for JLPT N5: Master the Japanese Language Proficiency Test N5
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17 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQLXJDJB ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Japanese Sentence Practice for JLPT N5: Master the Japanese Language Proficiency Test N5 By Full Pages. Discover a world where dreams come alive and possibilities ar…
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The Team: The Modern Minuteman Handbook: BUILDING A PROFESIONAL TEAM (The Minuteman Handbooks Book
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13 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CPXLP45B ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) The Team: The Modern Minuteman Handbook: BUILDING A PROFESIONAL TEAM (The Minuteman Handbooks Book 2) By Full Pages. Calling all book lovers! My latest creation is here, waiting …
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Math for English Majors: A Human Take on the Universal Language
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13 Minutes Ago - FREE READ NOW: https://koleksimajalah900.blogspot.com/?book=0762499818 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) Math for English Majors: A Human Take on the Universal Language By Full Pages. Unlock the secrets within the pages of my newest release! Join the ranks of readers who have ex…
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El D�tox Digital de Tom�s (Spanish and color version) (Spanish Edition)
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15 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQVFRKG2 ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) El D�tox Digital de Tom�s (Spanish and color version) (Spanish Edition) By Full Pages. Calling all book lovers! My latest creation is here, waiting to transport you to a world of…
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Broker Price Opinion Blueprint: A Comprehensive and Ultimate Guide to Mastering BPOs and Earning
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20 Minutes Ago - BOOK NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CP734F1X ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Broker Price Opinion Blueprint: A Comprehensive and Ultimate Guide to Mastering BPOs and Earning Extra Income as a Real Estate Professional By Full Pages. Calling all book l…
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The Doula Tool Kit: The Complete Practical Guide for End-of-Life Doulas Caregivers
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17 Minutes Ago - FREE READ NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CNN5LJMS ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) The Doula Tool Kit: The Complete Practical Guide for End-of-Life Doulas Caregivers By Full Pages. Calling all book lovers! My latest creation is here, waiting to transport y…
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CLOVER SYLLABLES: CLOVER helps us understand 6 syllable types for better reading and spelling.
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20 Minutes Ago - BOOK NOW: https://koleksimajalah900.blogspot.com/?book=B0CQ5H5G9B ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Get the book Now) CLOVER SYLLABLES: CLOVER helps us understand 6 syllable types for better reading and spelling. (R.S.V.P READING STRATEGIES WITH VISION AND PURPOSE) By Full Pages. Immerse yourself…
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Registro y Calendario de Taxes 2024: Propietarios de Guarderias (Spanish Edition)
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13 Minutes Ago - DOWNLOAD PDF NOW: https://lenteragunungbudeg.blogspot.com/?book=B0CQ5377FC ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Read the book Now) Registro y Calendario de Taxes 2024: Propietarios de Guarderias (Spanish Edition) By Full Pages. Immerse yourself in a tale of love, loss, and triumph. Your next great r…
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Practical Guide to Educational Assessment: A Proposal for St. John's Seminary in California
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17 Minutes Ago - FREE READ NOW: https://koleksimajalah900.blogspot.com/?book=B0CPYB1MKW ==> Available Formats: #eBook #Audibook #PDF #Kindle #ePub #Mobi <== (Discover the book Now) Practical Guide to Educational Assessment: A Proposal for St. John's Seminary in California By Full Pages. Discover a world where dreams come alive and possibilities are…
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