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The Firm, the Market, and the Law

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The Firm, the Market, and the Law Cover

 

Synopses & Reviews

Publisher Comments:

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.

Table of Contents

1: The Firm, the Market, and the Law

2: The Nature of the Firm

3: Industrial Organization: A Proposal for Research

4: The Marginal Cost Controversy

5: The Problem of Social Cost

6: Notes on the Problem of Social Cost

7: The Lighthouse in Economics

Product Details

ISBN:
9780226111018
Author:
Coase, R. H.
Author:
Coase, Ronald H.
Publisher:
University of Chicago Press
Subject:
Economics
Subject:
Microeconomics
Subject:
Stock exchanges
Subject:
Corporation law
Subject:
Corporate
Subject:
Economics - Microeconomics
Subject:
Economics - General
Edition Description:
1
Publication Date:
19900231
Binding:
TRADE PAPER
Grade Level:
Professional and scholarly
Language:
English
Illustrations:
1 line drawing
Pages:
226
Dimensions:
8.49x5.39x.56 in. .60 lbs.

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Related Subjects

History and Social Science » Economics » General
Science and Mathematics » Biology » Primatology

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