Saturday, June 24, 2017 Text is available under the CC BY-SA 3.0 licence.

Ronald Coase


British economist and the Clifton R Musser Professor Emeritus of Economics at the University of Chicago Law School.
Page 1 of 1
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 I were a horse?"
Coase quotes
"I can't remember [of a good regulation]. Regulation of transport, regulation of agriculture—agriculture is a, zoning is z. You know, you go from a to z, they are all bad. There were so many studies, and the result was quite universal: The effects were bad", in Reason, january 1997 (read online)
Coase
"The traditional approach has tended to obscure the nature of the choice that has to be made. The question is commonly thought of as one in which A inflicts harm on B and what has to be decided is: how should we restrain A? But this is wrong. We are dealing with a problem of a reciprocal nature. To avoid the harm to B would inflict harm on A. The real question that has to be decided is: should A be allowed to harm B or should B be allowed to harm A?"




Page 1 of 1


© 2009–2013Quotes Privacy Policy | Contact