Social stability comes about when society organizes itself to reduce all kinds of transaction costs.
In modern, large cities, transportation cost contributes, perhaps more than many other specific costs, to transaction costs.
Many transactions require people to be brought together or brought to specific locations.
Sunday, January 20, 2008
Choices
He sells watches and waits.
The customer looks, and he looks at the customer, and wonders:
He is a real one, likely to buy, likely to make a choice.
He sells watches when he is free, and then goes back to one of his three or four other jobs.
The customer looks, and he looks at the customer, and wonders:
He is a real one, likely to buy, likely to make a choice.
He sells watches when he is free, and then goes back to one of his three or four other jobs.
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