A firm, therefore, consists of the system of relationships which comes into existence when the direction of resources is dependent on an entrepreneur…

- Ronald Coase

I can't remember one [example of regulation] that's good. Regulation of transport, regulation of agriculture - agriculture is a, zoning is z. You kno…

- Ronald Coase

In fact, a large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to re…

- Ronald Coase

We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather tha…

- Ronald Coase

In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.

- Ronald Coase

Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, th…

- Ronald Coase

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.

- Ronald Coase

If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, "what would I do if …

- Ronald Coase

Ronnie had it right calling it Torture. That is a much more accurate description the way I see it.

- Ronald Coase