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*Unless there are external costs or benefits not captured in the market transaction

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January 25, 2023
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I think I cringe that I wrote this:

While it is tempting to think of a market transaction resulting in winners and losers, it turns of that this is not the case.  A market transaction is not a competition between buyers and sellers, but rather a mutually beneficial exchange that result in both sides being better off than before the transaction. 

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