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 reduce transaction costs so that individuals can negotiate freely and we can take advantage… — Ronald Coase Copy Share Image
The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price… — Ronald Coase Copy Share
A firm, therefore, consists of the system of relationships which comes into existence when the direction of resources is dependent on an entrepreneur... As… — Ronald Coase Copy Share
Despite all the efforts of art dealers, the number of Rembrandts existing at a given time is limited; yet such paintings are commonly disposed… — Ronald Coase Copy Share
Data can't speak for itself; it's up to you to give it a voice. Try to speak truthfully. — Ronald Coase Copy Share
I can't remember one [example of regulation] that's good. Regulation of transport, regulation of agriculture - agriculture is a, zoning is z. You know,… — Ronald Coase Copy Share
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put… — Ronald Coase Copy Share
Ronnie had it right calling it Torture. That is a much more accurate description the way I see it. — Ronald Coase Copy Share
The tools used by economists to analyze business firms are too abstract and speculative to offer any guidance to entrepreneurs and managers in their… — Ronald Coase Copy Share
The pollution problem is always seen as someone who was doing something bad that has to be stopped. To me, pollution is doing something… — Ronald Coase Copy Share
I can't remember [of a good regulation]. Regulation of transport, regulation of agriculture — agriculture is a, zoning is z. You know, you go… — Ronald Coase Copy Share
The law of property determines who owns something, but the market determines how it will be used. — Ronald Coase Copy Share
What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure… — Ronald Coase Copy Share
We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather than… — Ronald Coase Copy Share
In my long life, I have known some great economists, but I have never counted myself among their number nor walked in their company. — Ronald Coase Copy Share
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 Copy Share
