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The Firm, the Market, and the Law

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  • Coase, R. H.

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. "These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.

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Bibliographic Info

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This book is provided by University of Chicago Press in its series University of Chicago Press Economics Books with number 9780226111018 and published in 1990.

Edition: 1
ISBN: 9780226111018
Order: http://press.uchicago.edu/ucp/books/book/isbn/9780226111018.html
Handle: RePEc:ucp:bkecon:9780226111018

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Cited by:
  1. Reuben Soto, Sergio, 2012. "Fundamentos hipotéticos para proyectos de investigación sobre la crisis económica contemporánea
    [Hypothetical foundations for research projects on the contemporary economic crisis]
    ," MPRA Paper 39591, University Library of Munich, Germany.
  2. Sergio, Reuben, 2012. "Fundamentos hipotéticos para investigar la crisis económica contemporánea
    [Hypothetical foundations to investigate the contemporary economic crisis]
    ," MPRA Paper 43067, University Library of Munich, Germany, revised 14 Nov 2012.
  3. Vitols, Sigurt, 1995. "Corporate governance versus economic governance: banks and industrial restructuring in the US and Germany," Discussion Papers, Research Unit: Economic Change and Employment FS I 95-310, Social Science Research Center Berlin (WZB).
  4. Jiang, Liangliang & Lin, Chen & Lin, Ping, 2014. "The determinants of pollution levels: Firm-level evidence from Chinese manufacturing," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 118-142.
  5. Bingyuan Hsiung, 2013. "Guanxi: Personal connections in Chinese society," Journal of Bioeconomics, Springer, vol. 15(1), pages 17-40, April.
  6. Tereza Šímová & Josef Šíma, 2012. "In Search Of Empirical Content – The Austrian Way To Go Beyond Pure Theory," Journal of Information Systems & Operations Management, Romanian-American University, vol. 7(1), pages 50-59, March.
  7. Anthony U. EGBU & Edith C. Pat-MBANO & Kalu A. OBIALO, 2012. "Public Goods Provision: Informal Response To Government Failure In The Cities Of Nigeria," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 7(2), pages 67-78, May.

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