The way I understood it: transaction costs matter much more than most people think they do. City is efficient because transaction costs (transport and communic

The way I understood it: transaction costs matter much more than most people think they do. City is efficient because transaction costs (transport and communication distance for workers and suppliers) are low. However, that's a function of technology. The cost of communication is getting more and more independent of distance; with full vr, it's going to be zero. Price of transport as function of distance would get to zero with teleportation technology. Unless I missed something, it seems weird that several books were written on such a simple observation.