L. Lynne Kiesling
ASIN: B09B19XLMZ
Publisher: Fraser Institute (July 20, 2021)
Pages: N/A
Ronald Coase (1910-2013) was one of the most influential economists of the 20th century. His influence is due largely to two publications, the only two cited in the announcement of his Nobel Prize: “The Nature of the Firm” (1937) and “The Problem of Social Cost” (1960). These two articles are among the most-cited works in economics. The ideas Coase developed in these two works led to entirely new fields of inquiry in economics, law, management, and political science, and in conjunction with his article on using markets to allocate radio spectrum (Coase 1959), spawned new market design theory and practice that helped to transform our society and enable innovation and digitization.Coase’s style of theory, analysis, and persuasion was narrative, fact-driven, and much less formal than is the norm in economics. Coase spent his career asking deceptively simple questions that revealed profound ...