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Political Economy Commons

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Economic History

Iowa State University

2011

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Full-Text Articles in Political Economy

The Enduring Power Of Coase, Elizabeth Hoffman, Matthew L. Spitzer Nov 2011

The Enduring Power Of Coase, Elizabeth Hoffman, Matthew L. Spitzer

Economics Publications

By many measures, Ronald Coase has been among the most influential economists of the past 60 years. Why is this so? We suggest that Coaseā€™s work has enduring appeal to and insight for social scientists in part because it addresses the biggest and most important social problems: How do we solve governance and coordination problems when limited information, common resource issues, and public good issues produce conflicts among several people at once? Any scholar who works on issues of corporate or common-pool governance, pollution, allocation of seats on legislative committees, regulation of systemic risk in financial markets, provision of ...