Ronald Coase Quotes

Ronald Coase
Ronald Coase
British Economist
Born: Dec 29, 1910
Died: Sep 2, 2013
Business Economy Law Used Will You
Related authors: Adam Smith Alan Greenspan E. F. Schumacher John Kenneth Galbraith John Maynard Keynes Milton Friedman Paul A. Volcker Thomas Sowell
The law of property determines who owns something, but the market determines how it will be used. Ronald Coase
Property Law Will Market Something Determines How Owns Used Who
The pollution problem is always seen as someone who was doing something bad that has to be stopped. To me, pollution is doing something bad and good. People don't pollute because they like polluting. They do it because it's a cheaper way of producing something else. Ronald Coase
Good Me People Problem Good People Seen Else Way Bad Someone Something Something Else Cheaper Like Because Always Doing Stopped Polluting Pollution Producing Who
You get more irrationality within the family and in consumer behavior than you get, say, in the behavior of firms in their purchases. Ronald Coase
Family You Behavior Say Purchases More Consumer Within Than Get Irrationality
I've been wrong so often, I don't find it extraordinary at all. Ronald Coase
Extraordinary Find Wrong Been Often
You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized. Ronald Coase
Work Great You Law Economics Recognized Has-Been Would John Great Part Part Supported Importance Without Been Forget Whether Which Should Doubtful Foundation
The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price mechanism. The most obvious cost of 'organizing' production through the price mechanism is that of discovering what the relevant prices are. Ronald Coase
Relevant Would Cost Seem Through Price Prices Main Main Reason Firm Most Obvious Discovering Establish Production Organizing Reason Using Mechanism Why Profitable
Despite all the efforts of art dealers, the number of Rembrandts existing at a given time is limited; yet such paintings are commonly disposed of by auction. Ronald Coase
Art Time Despite Given Auction Dealers Limited Existing Efforts Commonly Paintings Number
I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs. Ronald Coase
Positive Analysis Way Costs Tend Stepping Stepping Stone Economy Stone Transaction Regard Theorem
What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production. Ronald Coase
System Structure Economic Economic System Termed Institutional Importance Done May Working Production Show
There is no doubt that the recognition by economists of the importance of the role of the firm in the functioning of the economy will prompt them to investigate its activities more closely. Ronald Coase
Will Doubt Recognition No Doubt Prompt More Investigate Firm Economists Economy Importance Role Closely Them Activities

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