Ronald Coase and the Coase Theorem
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Description: A liberal argument against the Coase Theorem.
A Critique of the Chicago School of Economics: RONALD COASE AND THE COASE THEOREM Ronald Coase is a British economist who joined the University of Chicago in 1964. He is best known for the "Coase theorem," which claims that assigning clear property rights will allow the market to reduce pollution. In the deregulation drive of the 80s, conservative politicians and lobbyists used the Coase theorem as theoretical justification for their policies. And in 1991, Coase won the Nobel prize in economics partly for this idea.
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| Page title: | The Long FAQ on Liberalism |
| Keywords: | Liberalism, liberal, politics, Chicago School of Economics, Ronald Coase, theorem, transaction costs, wealth, income effects, externalities, pollution, externality, spillover effect, private property, law, privatize, public, rights, right, free rider problem, environment, environmental, pro-environmental |
| Description: | A liberal essay rebutting the Coase Theorem of the Chicago School of Economics. |
| IP-address: | 71.19.157.78 |
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| Date | Creation Date: 21-jan-1997 Expiration Date: 22-jan-2015 |