Too Long; Didn't Read
Economists need to update our conceptual toolkit in order to <a href="http://www.econtalk.org/archives/2018/03/arnold_kling_on_2.html" target="_blank">catch up to the 21st century</a>. One concept that I find myself frequently using is mental transaction costs. The expression was coined by Clay Shirky, and he used it as far back as 2000, to make a <a href="http://www.openp2p.com/pub/a/p2p/2000/12/19/micropayments.html" target="_blank">case against micro-payments</a> as a tool for supporting content providers.