Ronald Coase is one of the most important economists of the twentieth century. Amongst other great achievements, Coase taught us why firms exist and how we can better understand how to solve environmental problems. He also made a profound contribution to our understanding of the provision of so-called "public goods" and helped join the often distinct intellectual fields of law and economics. Coase coined the phrase "blackboard economics" to describe an approach to economics that involved ignoring what happens in practice and, instead, led the profession to obsess with theory. He once said: 'If economists wished to study the horse, they wouldn't go and look at horses. They'd sit in their studies and say to themselves, "what would I do if I were a horse?"'There is much that students, teachers, policymakers and regulators can learn from the economics of Ronald Coase, and he will, no doubt, provide a rich seam of material for decades to come. The authors of this short book have taken up the challenge. They apply Coase's ideas to a number of different areas of economics and, in doing so, provide a practical and very readable introduction to a number of topics that have direct relevance for regulation and for public policy.
weitere Ausgaben werden ermittelt
- The authors
- A short biography
- Coase's approach
- What of the future?
- The economics of Ronald Coase
- What Coase did
- Coase's impact
- New Institutional Economics (NIE)
- Economic analysis of law
- Spectrum: from wireless to mobile phones
- Coase's legacy
- Ownership, governance and the Coasian firm
- The nature of the firm
- 'Ownership' in the Coasian theory of the firm
- The hazards of transacting
- Competition and the selection of governance structures
- Public policy towards the governance of enterprise
- Coase's contributions to the theory of industrial organisation and regulation
- The nature of the firm: implications for the theory of industrial organisation
- Regulating utilities: the Coasean critique of marginal cost pricing
- The hold-up problem: implications for regulation
- Regulation and industrial organisation of the communications industry
- The development of the radio broadcasting industry in Britain
- The allocation of radio frequency spectrum in the United States
- Coase on property rights and the political economy of environmental protection
- Coase on the problem of social cost
- Coasian analysis and the scope for environmental markets
- Ethical objections to the extension of environmental markets
- Coase and water
- Clearly defined property rights
- Integrated water resources management
- The Coase research agenda: public goods, transaction costs and the role of collective action
- Was the lighthouse a public good?
- Conditions for private provision
- Coase's research agenda
- Coase's way
- Stock exchanges as lighthouses
- Lighthouses - what does not work 'in theory' works in practice
- Financial regulation - what does not work 'in theory' works in practice
- Private regulation and stock exchanges
- 'Big bang' and 'deregulation'
- The further development of statutory regulation
- Could bank regulation be provided by market institutions?
- Coase and the 'sharing economy'
- Tomorrow 3.0: rent or own?
- The power drill trope: it's about time
- Entrepreneurs can sell reductions in transactions costs
- Middlemen as brokers and sellers of connections
- Why sell products when you can sell reductions in transactions costs?
- Coase's insight
- Publications by Ronald H. Coase in chronological order
- About the IEA
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