Podcast of the Week: Munger on the Past, Future, and Present of Transaction Costs

Michael Munger’s EconTalk spot doesn’t just give an excellent overview of the economics concept of transaction costs, but he also explores how to apply them going forward as we think about companies like Uber and AirBnb. I know I already wrote about it this week, but if you have an interest in winner-take-all problems and why tech-powered companies like this are so hard to compete with take the time to hear Munger explain it.