How transaction costs can block trade, and intermediation can keep it going — even in a POW camp. Watch more with Dan Russell: https://www.youtube.com/watch?v=_sLET... Russell, Daniel. "Transaction Costs and Intermediation." YouTube. Learn Liberty, 29 June 2017.SUBSCRIBE: http://bit.ly/2dUx6wg LEARN MORE: I Bet You Thought You Were Supposed to Hate These Guys (video): Professor Steve Davies argues that ticket scalpers and middlemen play an important role in the economy. https://www.youtube.com/watch?v=b3xlL... Defending Middlemen (article): Professor Don Boudreaux argues that middlemen are “woefully misunderstood” and provide greater accessibility to products than the producers themselves are able to provide. http://cafehayek.com/2016/09/41401.ht... What Do Banks Do? (video): One common type of intermediation is financial intermediation. Professor Alex Tabarrok explains how banks help connect savers and borrowers. https://www.youtube.com/watch?v=sbvAA... TRANSCRIPT:For a full transcript please visit: http://www.learnliberty.org/videos/tr... LEARN LIBERTY:Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/ .
Tagseconomics 101 economics middleman transaction costs intermediation Dan Russell transaction cost analysis libertarian liberty Institute for Humane Studies Learn Liberty