On the collapse of transaction costs....

..............................and the coming "sharing economy":

Fifty years from now, people will look back on the turn of the century and wonder about us. They will wonder why we were so wasteful, so selfish. Why we had closets, garages, and rental storage units, all under lock and key so we could keep other people from using the stuff that we weren’t using, either.

-Mike Munger, as he opens this essay