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Government institutions save transaction costs. Yet we still got some anarcho capitalist idiots on the internet.
by imtringued 3y ago
Government institutions save transaction costs. Yet we still got some anarcho capitalist idiots on the internet.
- Xorakios 3y agoMost economists and left-leaning research institutes disagree with this. Transaction costs, both monetary and temporal, are always higher with more regulation and governmental institutional involvement. https://www.rand.org/content/dam/rand/pubs/notes/2006/N2505.pdf https://www.rand.org/content/dam/rand/pubs/notes/2006/N2505.... https://faculty.haas.berkeley.edu/stadelis/tce_org_handbook_111410.pdf https://faculty.haas.berkeley.edu/stadelis/tce_org_handbook_... The arguments are usually about whether equity/fairness/outcomes are better, but cost in money and time is always higher.