Propriety, Norms, and Traffic Congestion: Episode 3
The Answer Is Transaction Costs
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Introduction
The study of transaction costs has a moral dimension, says John Defterios. We need to take a step back and look at the big picture before we can look at the details," he says. "When it is costly to transact, institutions matter" The next episode of TIDC will be hosted by Peter Bergen on Monday night from 8pm GMT.
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