I have to discuss the growth of modern technology's impact on transaction costs. What points do you think I should discuss?
If I were writing such an essay, I would first discuss the multitude of ways that technology has lowered transaction costs. I would discuss improvements in speed and reliability. Then I would try to work in something about
Types of labor (jobs) being phased out.
Types of labor (jobs) being phased in.
Capital/labor shifts
Effects on national and international competitiveness
Problems introduced by new ways of doing things.
etc.