Economics @ ITT

Ronald Coase, Law Professor and Economist, Dies at 102

Posted in economics by ittecon on September 4, 2013

I am not a huge fan of Ronald Coase, but I do respect his insight into transaction costs. It is his further work in support of private property as a means to mitigate social costs I find lacking—and of course the necessity for zero transaction costs for his theory to apply to the real world.

Ronald H. Coase, whose insights about why companies work and when government regulation is unnecessary earned him a Nobel Memorial Prize in Economic Science in 1991, died on Monday in Chicago. He was 102.

via Ronald H. Coase, a Law Professor and Leading Economist, Dies at 102 – NYTimes.com.

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