Transaction costs

We’ve had a lot of economics lately and I had hoped to do a history post for today, but that one hasn’t panned out (yet). Instead, today I thought we could talk about transaction costs: the barriers in the market that get in the way of trade. I think these are a powerful force in our marketplace: the key driver of the revival in FPs, the reason we have an online community, and even the success of Goulet Pens. It is a topic that is well worth exploring.

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