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The Contribution and Intellectual Legacy of Ronald Coase (1910–2013)

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  • Martin Ricketts

Abstract

Ronald Coase's work presents a continuing challenge to the established neoclassical paradigm. His incorporation of transactions cost into economic theory enables many questions of organisational structure to be addressed but also implies a world of continuing evolutionary change rather than static equilibrium. This article reviews some of Coase's most influential papers and considers their implications for the future of public policy and economic theory.

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  • Martin Ricketts, 2014. "The Contribution and Intellectual Legacy of Ronald Coase (1910–2013)," Economic Affairs, Wiley Blackwell, vol. 34(1), pages 46-58, February.
  • Handle: RePEc:bla:ecaffa:v:34:y:2014:i:1:p:46-58
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    File URL: http://hdl.handle.net/10.1111/ecaf.12052
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    1. repec:hrv:faseco:33077889 is not listed on IDEAS
    2. Andrei Shleifer, 1998. "State versus Private Ownership," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 133-150, Fall.
    3. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    4. Coase, R H, 1992. "The Institutional Structure of Production," American Economic Review, American Economic Association, vol. 82(4), pages 713-719, September.
    5. Ronald H. Coase, 2000. "The new institutional economics," Chapters,in: Institutions, Contracts and Organizations, chapter 1 Edward Elgar Publishing.
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