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 I were a horse?"
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
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
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…
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
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…
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
Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.
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
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 …
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
We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather tha…
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
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.
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
Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, th…
Ronnie had it right calling it Torture. That is a much more accurate description the way I see it. - Ronald Coase
Ronnie had it right calling it Torture. That is a much more accurate description the way I see it.
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