Tag: Theory of Social Cost
Help Wanted: Economists Who Understand the Economy

Ronald Coase, the 101-year old, Nobel Prize-winning economist from whose essay, “The Lighthouse in Economics” the Independent Institute takes its logo, is at it again: tweaking his fellow economists for being out of touch with reality in a new piece in the December 2012 Harvard Business Review (HBR), “Saving Economics from the Economists.” Economics...
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Happy Birthday, Ronald Coase and Thank You for Our Logo!

Ronald H. Coase, winner of the 1991 Nobel Prize in Economic Science, turns 100 today, still publishing. As The Economist magazine pointed out in its recent tribute to his work on firms: He has long chided his fellow economists for scrawling hieroglyphics on blackboards rather than looking at what it actually takes to run...
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