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The firm, the market, and the law

Author: R H Coase
Publisher: Chicago : University of Chicago Press, 1988.
Edition/Format:   Print book : EnglishView all editions and formats
Database:WorldCat
Summary:
Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets -- what is known as price theory or microeconomics. He has always  Read more...
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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: R H Coase
ISBN: 0226111008 9780226111001 0226111016 9780226111018
OCLC Number: 16646555
Description: vii, 217 pages ; 23 cm
Contents: The firm, the market, and the law --
The nature of the firm --
Industrial organization : a proposal for research --
The marginal cost controversy --
The problem of social cost --
Notes on the problem of social cost --
The lighthouse in economics.
Responsibility: R.H. Coase.

Abstract:

Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets -- what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics. Many economists today approach economics as technicians. Coase approaches it as a philosopher. He thinks and writes in a dep and contemplative way, and his work is rooted in a careful and deliberate scrutiny of real conditions and a thinking through of their consequences.

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