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I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs.
The only people who steal are thieves, and that's a very small percentage of civilization. Most people want to have some way to make the economic transaction valid. They want to return the favor, if you will... return the benefit and reciprocate.
Your customers are judging every aspect of every transaction and rating everything, from friendliness of people to ease of doing business to quality of product to service after the sale.
Empathy is the most mysterious transaction that the human soul can have, and it's accessible to all of us, but we have to give ourselves the opportunity to identify, to plunge ourselves in a story where we see the world from the bottom up or through another's eyes or heart.
Politics is a matter of human transaction. I consider absolutely everything political, because all fiction involves relationships between people, and relationships between people always include matters of power, of equity, of communication.
I think that any business that thinks that the transaction is 'you give me money and I give you food, next, you give me money and I give you food, next,' without understanding that people deeply want to feel restored is in danger.
English businesses would face massive transaction costs if Scotland, their second biggest export market, used a different currency.
God is not glorified in any transaction upon earth so much as in the conversion of a sinner.
No transaction happens unless it is voluntary. It only happens if both of you think you win.
The International Health Partnership Plus is addressing the need to harmonize development assistance and reduce the current waste, duplication, and high transaction costs.
