Evidence item

The Nobel committee states that if transaction costs were zero, no firms would arise. DIRECT_TEXT

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Source: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991 - Press release · locator {} · excerpt hash sha256:b7f9cfed65999cbc6742c917c4c580fdafed9bf51682f2a3aa9e7d8cbab3a42e

If transaction costs were zero, no firms would arise.