IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-58274-4_22.html
   My bibliography  Save this book chapter

Ronald H. Coase (1910–2013)

In: The Palgrave Companion to LSE Economics

Author

Listed:
  • Alain Marciano

    (University of Montpellier)

Abstract

The purpose of this chapter is to link Ronald Coase’s methodological approach to what he ‘learned’ when he was at the London School of Economics (LSE) from Edwin Cannan and Arnold Plant. The main lesson Coase taught us and insisted upon was that economics should not be too ‘abstract’ and should not rely on a priori categories. He pleaded for more realism in economics, for a form of ‘political economy’: economists should use theory to generalise what facts tell us rather than trying to interpret facts by using a priori and abstract categories. This conception of economics is closer to the LSE of Cannan and Plant than to the Chicago of Stigler, Friedman, Becker or Posner.

Suggested Citation

  • Alain Marciano, 2019. "Ronald H. Coase (1910–2013)," Palgrave Macmillan Books, in: Robert A. Cord (ed.), The Palgrave Companion to LSE Economics, chapter 0, pages 555-577, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-58274-4_22
    DOI: 10.1057/978-1-137-58274-4_22
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Frischmann, Brett M. & Marciano, Alain, 2015. "Understanding The Problem of Social Cost," Journal of Institutional Economics, Cambridge University Press, vol. 11(2), pages 329-352, June.
    2. Elodie Bertrand, 2010. "The three roles of the 'Coase theorem' in Coase's works," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(4), pages 975-1000.
    3. Warren J. Samuels & Steven G. Medema & A. A. Schmid, 1997. "The Economy as a Process of Valuation," Books, Edward Elgar Publishing, number 1088.
    4. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    5. Coase, R H, 1993. "Law and Economics at Chicago," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 239-254, April.
    6. Coase, R H, 1981. "The Coase Theorem and the Empty Core: A Comment," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 183-187, April.
    7. Ronald H. Coase, 1970. "The Theory of Public Utility Pricing and Its Application," Bell Journal of Economics, The RAND Corporation, vol. 1(1), pages 113-128, Spring.
    8. Ronald Coase, 2006. "The Conduct of Economics: The Example of Fisher Body and General Motors," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(2), pages 255-278, June.
    9. Brett M. Frischmann & Christiaan Hogendorn, 2015. "Retrospectives: The Marginal Cost Controversy," Journal of Economic Perspectives, American Economic Association, vol. 29(1), pages 193-206, Winter.
    10. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-376, October.
    11. Hayek, F. A., 1995. "Contra Keynes and Cambridge," University of Chicago Press Economics Books, University of Chicago Press, number 9780226320656 edited by Caldwell, Bruce, September.
    12. Elodie Bertrand, 2009. "Empirical investigations and their normative interpretations: A reply to Barnett and Block," Public Choice, Springer, vol. 140(1), pages 15-20, July.
    13. Harnay, Sophie & Marciano, Alain, 2009. "Posner, Economics And The Law: From “Law And Economics” To An Economic Analysis Of Law," Journal of the History of Economic Thought, Cambridge University Press, vol. 31(2), pages 215-232, June.
    14. Elodie Bertrand, 2015. "From the Firm to Economic Policy: The Problem of Coase's Cost," History of Political Economy, Duke University Press, vol. 47(3), pages 481-510, September.
    15. -, 1986. "Agenda = Agenda," Series Históricas 8749, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Francesco Parisi & Charles K. Rowley (ed.), 2005. "The Origins of Law and Economics," Books, Edward Elgar Publishing, number 2695.
    17. Stigler, George J, 1992. "Law or Economics?," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 455-468, October.
    18. Boettke, Peter J. & Coyne, Christopher J., 2005. "Methodological individualism, spontaneous order and the research program of the Workshop in Political Theory and Policy Analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 57(2), pages 145-158, June.
    19. Boettke, Peter J. & Coyne, Christopher J. & Leeson, Peter T., 2013. "Comparative historical political economy," Journal of Institutional Economics, Cambridge University Press, vol. 9(3), pages 285-301, September.
    20. Boettke Peter J. & Candela Rosolino A., 2014. "Alchian, Buchanan, and Coase: A Neglected Branch of Chicago Price Theory," Man and the Economy, De Gruyter, vol. 1(2), pages 189-208, December.
    21. Klaes, Matthias, 2000. "The History of the Concept of Transaction Costs: Neglected Aspects," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(2), pages 191-216, June.
    22. H. H. Goldin & R. H. Coase, 1965. "Discussion of "Evaluation of Public Policy Relating to Radio and Television Broadcasting: Social and Economic Issues" (Coase)," Land Economics, University of Wisconsin Press, vol. 41(2), pages 167-168.
    23. Elodie Bertrand, 2006. "The Coasean analysis of lighthouse financing: myths and realities," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(3), pages 389-402, May.
    24. R. H. Coase, 1965. "Evaluation of Public Policy Relating to Radio and Television Broadcasting: Social and Economic Issues," Land Economics, University of Wisconsin Press, vol. 41(2), pages 161-167.
    25. Deirdre N. McCloskey, 1998. "Other Things Equal: The So-Called Coase Theorem," Eastern Economic Journal, Eastern Economic Association, vol. 24(3), pages 367-371, Summer.
    26. Coase, R H, 2000. "The Acquisition of Fisher Body by General Motors," Journal of Law and Economics, University of Chicago Press, vol. 43(1), pages 15-31, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Valentiny, Pál, 2018. "Coase-kép másképp: középpontban a közszolgáltatások [Coase otherwise: Public utilities]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 346-381.
    2. Steven G. Medema, 2020. "The Coase Theorem at Sixty," Journal of Economic Literature, American Economic Association, vol. 58(4), pages 1045-1128, December.
    3. Elodie Bertrand, 2011. "What do cattle and bees tell us about the Coase theorem?," European Journal of Law and Economics, Springer, vol. 31(1), pages 39-62, February.
    4. Herbert Hovenkamp, 2011. "Coasean markets," European Journal of Law and Economics, Springer, vol. 31(1), pages 63-90, February.
    5. Rosolino A. Candela & Vincent Geloso, 2019. "Coase and transaction costs reconsidered: the case of the English lighthouse system," European Journal of Law and Economics, Springer, vol. 48(3), pages 331-349, December.
    6. Alain Marciano, 2010. "Calabresi, "law and economics" and the Coase theorem," ICER Working Papers 26-2010, ICER - International Centre for Economic Research.
    7. Elodie Bertrand, 2014. "‘The fugitive’: The figure of the judge in Coase's economics," Post-Print hal-03481745, HAL.
    8. Alain Marciano, 2011. "Ronald Coase, “The Problem of Social Cost” and The Coase Theorem: An anniversary celebration," European Journal of Law and Economics, Springer, vol. 31(1), pages 1-9, February.
    9. Steven G. Medema, 2010. "Ronald Harry Coase," Chapters, in: Ross B. Emmett (ed.), The Elgar Companion to the Chicago School of Economics, chapter 2, Edward Elgar Publishing.
    10. Peter J. Boettke & Rosolino A. Candela, 2020. "Where Chicago meets London: James M. Buchanan, Virginia Political Economy, and cost theory," Public Choice, Springer, vol. 183(3), pages 287-302, June.
    11. Élodie Bertrand, 2006. "La thèse d'efficience du « théorème de Coase ». Quelle critique de la microéconomie ?," Revue économique, Presses de Sciences-Po, vol. 57(5), pages 983-1007.
    12. Elodie Bertrand, 2010. "The three roles of the 'Coase theorem' in Coase's works," Post-Print hal-02409115, HAL.
    13. Wang Ning, 2018. "Law and the Economy: An Introduction to Coasian Law and Economics," Man and the Economy, De Gruyter, vol. 5(2), pages 1-13, December.
    14. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, August.
    15. Rosolino A. Candela & Vincent J. Geloso, 2020. "The Lighthouse Debate and the Dynamics of Interventionism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(3), pages 289-314, September.
    16. Mary M. Shirley, 2016. "Ronald Coase: the makings of an iconoclast," Chapters, in: Claude Ménard & Elodie Bertrand (ed.), The Elgar Companion to Ronald H. Coase, chapter 1, pages 7-17, Edward Elgar Publishing.
    17. Anetta Čaplánová & Marcel Novák, 2015. "Transakčné náklady, vlastnícke práva a externality - k vedeckému odkazu R. H. Coasea [Transaction Costs, Property Rights and Externalities - on the Contribution of R. H. Coase to Economic]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(2), pages 244-257.
    18. Richardson, Alan J. & Kilfoyle, Eksa, 2009. "Accounting in markets, hierarchies and networks: The role of accounting in the transnational governance of postal transactions," Accounting, Organizations and Society, Elsevier, vol. 34(8), pages 939-956, November.
    19. Hansen, Bradley A. & Hansen, Mary Eschelbach, 2016. "The historian's craft and economics," Journal of Institutional Economics, Cambridge University Press, vol. 12(2), pages 349-370, June.
    20. Alain Marciano & Giovanni Battista Ramello, 2019. "Law, economics and Calabresi on the future of law and economics," European Journal of Law and Economics, Springer, vol. 48(1), pages 65-76, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-58274-4_22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.