Tag: transaction costs
Ronald Coase and the Battle of Breastfeeding

People pay to make them bigger and smaller and there is an entire store in the mall dedicated to them. Every year, thousands of people walk to cure them of cancer. If there are 7 billion people in the world, this means about 3.5 billion people have them. What am I talking about? Today,...
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Armen Alchian (April 12, 1914 – February 19, 2013)

Arline Alchian Hoel reports that her father, Armen Alchian, “passed away peacefully in his sleep early this morning at his home in Los Angeles.” He was 98 years old. Armen Alchian was a major figure in the economics profession for more than half a century. At UCLA, where he spent his academic career as...
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Nobel Laureate Economist Ronald Coase Turns 101

On December 29th, the world-renowned economist Ronald H. Coase celebrated in Chicago his 101st birthday. Professor Coase received the Nobel Prize in Economic Sciences in 1991, and he is the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School and the former, highly influential editor of the prestigious Journal...
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