Is most of the economy transaction costs?
I was learning about the economist Ronald Coase and a topic he focused on: transaction costs. A person in a video described how businesses and technology help lower transaction costs. The person used Amazon.com as an example, pointing out it takes less time to search the marketplace and buy what someone wants. My experience is different. When I look up what people buy most on Amazon.com, a lot of it is stuff that won't improve the life of the buyer before ending up in a landfill. In my conversation with Lorna Davis after she stopped shopping Amazon after taking my sustainability leadership workshop, she saved time and money. She didn't think she was wasting time or money. She probably thought she was saving them by…
