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3min chapter
Why Bosses Don't Wear Bunny Slippers: TAITC
The Answer Is Transaction Costs
Understanding Transaction Costs Through Historical Wheat Trading
This chapter explores historical transaction costs in wheat storage and trade before railroads, emphasizing the inefficiencies of handling individual sacks. It highlights the transformation brought by bulk storage and the Chicago Mercantile Exchange's role in standardizing wheat categories for more efficient market practices.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode