Nobel laureate Ronald H. Coase (1910-2013) was recorded in 2001 in an extended video now available to the public. Coase's articles, "The Problem of Social Cost" and "The Nature of the Firm" are among the most important and most often cited works in the whole of economic literature. Coase recounts how he tried to encourage "economists and lawyers to write about the way in which actual markets operate, and about how governments actually perform in regulating or undertaking economic activities."
Additional materials, including a video index and sharing tool, discussion questions, and links for further reading, are available at Newmedia at UFM.edu.
Epstein asks Coase if the significance of the Coase theorem is that it forced people to think about a world of zero transaction costs. But Coase says that wasn't it. Why does Coase think the Coase theorem was so novel?
Did you know you can access some great discussion questions by clicking through the New Media link above?
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Did you know you can access some great discussion questions by clicking through the New Media link above?
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