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Ronald Coase (1960) – The Problem of Social Cost [pdf]
- mobileturdfctry 1y agohttps://www.law.uchicago.edu/lawecon/coaseinmemoriam/problemofsocialcost https://www.law.uchicago.edu/lawecon/coaseinmemoriam/problem... > What has become known since as the "Coasean World,"--where rational actors transact freely without need for institutions, firms, or even law—"is really the world of modern economic theory, one which I was hoping to persuade economists to leave."