Wedding planners have been around for a long time, but they were seen as a luxury. Now more and more people are hiring wedding planners. A planner is also an enforcer who has the clout to keep both sides honest. Because of her experience, planning weddings, she knows how to talk to florists and bakers.
Why would anyone want to hire a middleman, like a wedding planner, especially if you have time to take care of the planning yourself? Marina Krakovsky, author of The Middleman Economy talks with EconTalk host Russ Roberts about middlemen in the modern economy. Despite predictions that the internet would destroy the need for middlemen, Krakovsky argues they're more valuable than ever though their roles have changed. Krakovsky looks at the different roles middlemen play today and how their value added can justify their existence.