Tags » Ronald Coase

¿La propiedad es un derecho humano?

Muchos piensan que los guatemaltecos debemos repudiar el derecho de propiedad, porque la propiedad privada solamente sirve para atropellar los derechos humanos. Esto no es cierto. 670 more words


The separation of ownership from control

Eugene Fama divides firms into two types:  the managerial firm,  and the entrepreneurial firm.

The owners of a managerial firm advance, withdraw, and redeploy capital, carry the residual investment risks of ownership and have the ultimate decision making rights over the fate of the firm (Klein 1999; Foss and Lien 2010; Fama 1980; Fama and Jensen 1983a, 1983b; Jensen and Meckling 1976). 1,008 more words

Industrial Organisation

Spans of control and the cost of entrepreneurial time

One constraint on the growth of any firm is entrepreneurs have a limited span of control (Coase 1937; Williamson 1967, Lucas 1978; Oi 1983a, 1983b). A span of control is the number of subordinates that an individual supervisor has to control and lead either directly or through a hierarchical managerial chain (Fox 2009). 317 more words

Applied Price Theory

Neoclassical economists think the economy is freestanding and ignore institutions!

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991 was awarded to Ronald H. Coase:

for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy…

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Constitutional Political Economy

Ronald Coase on blackboard economics

This neglect of other aspects of the system has been made easier by another feature of modern economic theory – the growing abstraction of the analysis, which does not seem to call for a detailed knowledge of the actual economic system or, at any rate, has managed to proceed without it.

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Law And Economics