Top 10 Ronald Coase Quotes

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Last Updated on May 30, 2021

Nov 07, 2020

The law of property determines who owns something, but the market determines how it will be used.

Cheaper
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Nov 07, 2020

The pollution problem is always seen as someone who was doing something bad that has to be stopped. To me, pollution is doing something bad and good. People don't pollute because they like polluting. They do it because it's a cheaper way of producing something else.

Buys
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Nov 07, 2020

Roughly speaking, when you are dealing with business firms operating in a competitive system, you can assume that they're going to act rationally. Why? Because someone in a firm who buys things at $10 and sells them for $8.00 isn't going to last very long in that firm.

Family
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Nov 07, 2020

You get more irrationality within the family and in consumer behavior than you get, say, in the behavior of firms in their purchases.

Extraordinary
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Nov 07, 2020

I've been wrong so often, I don't find it extraordinary at all.

Mine
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Nov 07, 2020

People have used my views for purposes which are very different from mine.

Like
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Nov 07, 2020

I'm no enthusiast for the Coase Theorem. I don't like it, but it's widely used.

Great Part
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Nov 07, 2020

You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized.

Nov 07, 2020

The main reason why it is profitable to establish a firm would seem to be that there is a cost of using the price mechanism. The most obvious cost of 'organizing' production through the price mechanism is that of discovering what the relevant prices are.

Commonly
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Nov 07, 2020

Despite all the efforts of art dealers, the number of Rembrandts existing at a given time is limited; yet such paintings are commonly disposed of by auction.

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