The Answer Is Transaction Costs

"The real price of everything is the toil and trouble of acquiring it."  -Adam Smith (WoN, Bk I, Chapter 5)

In which the Knower of Important Things shows how transaction costs explain literally everything. Plus TWEJ,  and answers to letters.

If YOU have questions, submit them to our email at taitc.email@gmail.com 

There are two kinds of episodes here: 
1. For the most part, episodes June-August are weekly, short (<20 mins), and address a few topics. 
2. Episodes September-May are longer (1 hour), and monthly, with an interview with a guest.

Finally, a quick note:  This podcast is NOT for Stacy Hockett. He wanted you to know that.....

Recent Episodes

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Recent Reviews

Agmcvet

Love the Show; Don’t Change a Thing

Love the show, Mike. And don’t listen to anyone who says you or your guests get too far off in the economic weeds sometimes: I learn so much and get a greater appreciation for the dismal science with every episode. Being a non-economist TAITC fan, it’s definitely a mental challenge to sort through the…intense…terminology use sometimes, but what an enlightening challenge it is. Keep up the great work!
jjiusbbbdhag

Hunger for the munger

I would love to see an avengers-style buddy action hero movie starring Mike Munger and Russ Roberts fighting against… well I don’t even know what but something where they explain everyday economics principles and wear capes! Love the podcast we need more Mike on the mic.
Vance Ginn

Munger Transactions Are Best

You don’t want to miss this show with Munger making concise arguments for the importance of transaction costs in all we do.
johnson bros

DIAMONDS in a coal mine

Nothing against coal mines, but how great it’s been to run across this gem while regularly exploring my staple listenings. Rewarding
BrevityRules

Audio quality in this week’s show was bad

I like the show but the audio was very low grade and it didn’t provide for good listening. I’m sure the transaction cost of good audio is worth bearing.
nickname taken 102938

A Gem

Munger has that unique ability to translate his expertise in political economy into lessons for policymakers and ordinary citizens alike and make you smile while he does so. Essential listening.
Joey Ken

Love this guy

I consume everything he puts out including his amazing interviews on the Econ talk podcast. He is great at explaining things in a simple way which helps Someone like me with no Econ background (except the aforementioned podcast.)
HDieterD

Too fun to be price theory, and yet that and more

A great approach to analyzing complex economic interactions because it might be more entertaining that educational.
Traviseeeee

At Last

After years of listening to and enjoying Munger on Econtalk, I’m glad to find a stand-alone podcast. The content is deep, the pace is fast —sometimes requiring a second careful listen for the listener of average intellect (myself included). Keep up the fine work!