Tags » Ronald Coase

Economics in disarray

Economics has problems. Because of Samuelson, it got a half-century case of physics envy. Then people read Schumpeter and McCloskey, and realized economics can’t predict a whit. 213 more words

Economic Thought

Virtual currencies and their institutions

Or why Bitcoin and its variants are risky assets.

It’s fair to say that virtual currencies need block chain. Block chain is an essential or necessary innovation behind such currencies. 216 more words

Economic Thought

Silicon Valley’s favourite economist, Ronald Coase. Back in 1937, a young Coase wrote “The Nature of the Firm”, calling attention to something strange:

while corporations competed within a competitive marketplace, corporations themselves were not markets.

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Ronald Coase

If you torture data long enough, it will confess.

– Ronald Coase

Quotes

Best practices.

In a still-influential paper from 1937 titled “The Nature of the Firm,” the economist and Nobel laureate Ronald Coase established himself as an early observer and theorist of corporate concerns.

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