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Ronald Coase Quotes


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Quotes by Ronald Coase

Showing 11-20 of 20 Quotes by Ronald Coase

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.

~Ronald Coase

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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.

~Ronald Coase

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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.

~Ronald Coase

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You wouldn't think there was a need for a Coase Theorem, really.

~Ronald Coase

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In my long life, I have known some great economists, but I have never counted myself among their number nor walked in their company.

~Ronald Coase

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What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production.

~Ronald Coase

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During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps in Adam Smith's system, to correct his errors and to make his analysis vastly more exact.

~Ronald Coase

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The tools used by economists to analyze business firms are too abstract and speculative to offer any guidance to entrepreneurs and managers in their constant struggle to bring novel products to consumers at low cost.

~Ronald Coase

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Technology is at a point where we should allow multiple parties to occupy the same spectral space.

~Ronald Coase

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Changes like the telephone and telegraphy, which tend to reduce the cost of organizing spatially, will tend to increase the size of the firm.

~Ronald Coase

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Biography

Nationality: British

Type: Economist

Born: December 29th, 1910

Died: September 2nd, 2013

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