Search Results for “Coase” – Knowledge Problem

Coase’s Influence on Economics, and Adam Smith’s Influence on Coase

Economics, Uncategorized / By Lynne Kiesling

https://www.facebook.com/CPCMP/videos/vb.181913810273/10160362413965274/?type=3&theater Understanding the economy as a dynamic, complex system relies on the foundational work of several economists, including Adam Smith (of course) and Ronald Coase. As Coase observed in his 1991 Nobel Prize address, What I have done is to show the importance for the working of the economic system of what may be termed …

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Appreciation of Ronald Coase

5 Comments / Economics / By Lynne Kiesling

Ronald Coase passed away yesterday, four months shy of his 103rd birthday and working right up to the end. An archive search here shows how deeply Coase’s work influences Mike’s and mine, and we are not alone — Coase was one of the most influential economists of the 20th century, an influence made even more …

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Landsburg on Pigou and Coase

2 Comments / Economics / By Lynne Kiesling

Lynne Kiesling I appreciate this post from Steve Landsburg on Pigouvian models, Coasian models, and policies addressing external costs (and the comments are valuable too). The foil for his post is an Elizabeth Kolbert New Yorker column, in which she uses two examples to illustrate her argument in favor of a Pigouvian carbon tax — …

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Coasean Taxes and Other Energy Economics Stories

5 Comments / Economic history, Economics, Energy markets, Environmental policy / By Michael Giberson

Michael Giberson Of note. Daniel Cole, “Thinking About an Optimal Coase Tax” “Economists have spilled a lot of ink trying to specify what an ‘optimal’ Pigou tax would be… Haven’t any of these people read Coase (I mean read him carefully)? One of his explicit aims in ‘The Problem of Social Cost’ (1960) was to correct an …

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Applying Coase to Wildlife Preservation

Economics, Environmental policy / By Lynne Kiesling

Lynne Kiesling I loved seeing pictures a couple of weeks ago of an endangered Bengal tiger and her cubs from a hidden camera. Large predator wildlife that roam and are territorial often face reductions in their territory when humans move in; in the Bengal tiger territory in India, both traditional farming and the construction of …

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Coase, Legal Liability, and Pesticide Drift

10 Comments / Economics / By Lynne Kiesling

Lynne Kiesling A ruling last week from Minnesota’s Court of Appeals provides an interesting case study in using common law and legal liability (a la Coase) in an environmental case. As summarized in the St. Cloud Times, the issue at hand is pesticide drift — when pesticide spray on one field is carried over to …

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Demsetz Discusses Coase’s Mistake on Pigou and Social Costs

5 Comments / Economics, Environmental policy, Law / By Michael Giberson

Michael Giberson Last summer, Harold Demsetz spoke at the Property and Environment Research Center on Ronald Coase’s big mistake in “The Problem of Social Cost.” PERC has just posted the video. The article he is presenting is, “Fallacies in the Economic Doctrine of Externalities,” but I bet in the written article he doesn’t say, “what …

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Ronald Coase Interview

2 Comments / Economics, Liberty / By Michael Giberson

Michael Giberson Interview with Ronald Coase, on the occasion of the establishment of the Coase China Society, an effort to stimulate study and application of Coase’s ideas in China. Interview conducted by Wang Ning, a student of Coase’s now teaching at Arizona State University and co-author with Coase of the book How China Became Capitalist. …

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Cole on Coase and Cattle

Economics, Law / By Michael Giberson

Michael Giberson Arizona is re-thinking its open range law. Dan Cole, blogging at Law, Economics & Cycling, is reminded of Ronald Coase (and specifically Robert Ellickson’s law review article “Of Coase and Catttle“). Cole summarizes the situation: Arizona is an “open range” state, which means that cattle can roam at will. Ranchers do not have …

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Schumpeter, Coase, and Hayek

1 Comment / Economics / By Lynne Kiesling

Lynne Kiesling The last couple of weeks have been crazy here in KP land, with things I’ll be able to share in a bit. Today I am off to England (YAY!) for a Liberty Fund conference that I helped to organize. The readings are selections from Schumpeter, Coase, and Hayek. Here’s the motivation: lots of …

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Search Results for: Coase