Ebook Download Tomorrow 3.0: Transaction Costs and the Sharing Economy (Cambridge Studies in Economics, Choice, and Society), by Michael C. Munger

Ebook Download Tomorrow 3.0: Transaction Costs and the Sharing Economy (Cambridge Studies in Economics, Choice, and Society), by Michael C. Munger

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Tomorrow 3.0: Transaction Costs and the Sharing Economy (Cambridge Studies in Economics, Choice, and Society), by Michael C. Munger

Ebook Download Tomorrow 3.0: Transaction Costs and the Sharing Economy (Cambridge Studies in Economics, Choice, and Society), by Michael C. Munger

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Review

"Timely, insightful, and pitch perfect." From Tweet by Daniel B. Rodriguez, Dean, Northwestern School of Law"Modernity is a never-ending process; people are always looking for ways to make things better. The transaction cost revolution is the next step, and it is already changing lives. With Munger's help and a little Econ 101 knowledge, that change will be much easier to navigate." Ryan Young, Competitive Enterprise Institute. "You should read Munger's new book Tomorrow 3.0... It's not just a book about current events, making sense of Über, and what not. Rather, it's also a theory of property rights. Why do property rights exist? Why do we have an interest in owning things? The answer is 'Transaction costs.' In general, we don't desire to own goods themselves; we desire instead to have ready and immediate access to the services those goods provide. We bother with owning and storing goods because right now, with current technology, there's no easy way to have the services goods provide on demand without owning things. But that's about to change." Jason Brennan, Bleeding Heart Libertarians Blog

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Book Description

Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

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Product details

Series: Cambridge Studies in Economics, Choice, and Society

Paperback: 190 pages

Publisher: Cambridge University Press (March 22, 2018)

Language: English

ISBN-10: 1108447341

ISBN-13: 978-1108447348

Product Dimensions:

6 x 0.4 x 9 inches

Shipping Weight: 9.9 ounces (View shipping rates and policies)

Average Customer Review:

4.2 out of 5 stars

10 customer reviews

Amazon Best Sellers Rank:

#529,875 in Books (See Top 100 in Books)

Things I wish were better: the author states that Amazon loses money on retail (false), and that AWS is just a “generic service robot” and a hosting platform for matching buyers and sellers (false).Later in the book, the author uses revenue and user numbers for Facebook and Twitter from 2015. This is a book published in late 2018! These companies report quarterly and there is no reason not to have used much more recent figures.There are plenty of typos (no spellcheck was run) and a few rudimentary grammar errors.There are some interesting ideas, yes. But as short as the book already is, it could be 1/4 of the length to communicate those ideas (it actually manages to be repetitive).Listening to the podcast on Econtalk with the author is probably all you need.

Full Disclosure: Mike Munger was my advisor at Duke, many (many) moons ago. As someone who lives in Silicon Valley, I think this book provides a clear path to two key ideas:1. How to reduce transaction costs in your company's products/services to get more customers. For example, if you can reduce the distance between your customer and your product, you are likely to have more customers.2. How to think about turning owned goods (like your couch or your TV or the drill you rarely use) into revenue generating assets.Personally, I'm more excited about the latter. The improving opportunities to increase the utilization rate of their owned goods strikes me as a strong way for citizens to (a) make money with what they already have and (b) to reduce production waste.A more environmentally friendly planet would see all goods used at 100% utilization for the duration of goods' lifespans.

Absolute garbage, the author should be ashamed of the monstrosity that came out of his brain. Sharing will never work in the society, neither will paying every single citizen for doing NOTHING.

This gives a great look ahead of how software will connect people with more information to drive down costs.

Many ideas to ponder- well referenced - a worthwhile read. The following is to meet the required word count, blah.

Really enjoyed it. Not too long.

I think the most impressive part of this book is that the author actually made the topic of transaction costs interesting enough to read from start to finish, including the notes. A page-turner, really, just to see what insights were coming next.Transaction costs are probably a whole lot more important than you think, and this book explains why in an engaging way -- striking a perfect balance between respecting its educated audience and staying away from obscure economics jargon. The book wants to persuade, and uses plenty of examples that are easy to relate to -- especially if you ever used Uber. The book pretty much made me say, "Whoa, now I see what is going on when I pay for things. I'm not just buying...stuff; I'm buying the *ability* to obtain better stuff, when I want it, where I want it, and how I want it. And my house is just a storage facility for things I have a use for 1% of the time, and collect dust 99% of the time. This situation needs to somehow be fixed." Read the book for the details.There's a bit of repetition, which is probably a good thing. The package of "triangulation, transfer, and trust" keeps coming back as a reminder of how essential these concepts are to transaction costs. In five years, that might be all I remember from this book -- and if that's true, then it's still more, and far more worthwhile, than what I remember from most other books I've read. Those three words contain a LOT of important information.My only quibble is that I don't care much for predictions. Maybe futuristic-sounding titles sell better, I don't know. I mean, yes, there's an argument that technology will increase the size of the "sharing economy", but there are opposite forces happening. For example, as people get richer, they might be less inclined to want to share -- or even touch -- things that others have used. For example, as people get more affluent, I think they might be pulled towards owning their own clothing instead of receiving "shared" clothing at Goodwill -- even if most of it is unused most of the time. I don't know where this will all end, but I was persuaded that sharing will increase -- though perhaps not as much as the book suggests.So come for the predictions but stay for the explanations. You really will be much smarter when you're finished.

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