Obfuscated Transactionalism at Cato Unbound

| Gabriel |

From my lead essay at Cato Unbound:

And so we modern people take for granted that we both produce and consume through markets. The idea that we might acquire groceries because the butcher, the baker, and the brewer owe us favors rather than because we hand them cash or a Visa card seems primitive. Nonetheless, there are circumstances where we modern westerners consider prestations more appropriate than purchases. This preference extends well beyond obvious matters of intimacy like sex and Christmas presents and even reaches into business interactions.

Responses from Mike Munger, Alan Fiske, and Alex Tabarrok to follow.

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