The Nature of the Firm and the Problem of Social Cost

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The two most important are the nature of the firm, which was published in 19 37 in economic and the problem of social cost. But hoping we'll have time at the end to give significant time for the marginal cost controversy,. The paper grew out of a trip cose had made with a fellow student, i believe, to the united states. And it dawned on him that the way economists talk about the firm is a black box.

Don Boudreaux of George Mason University and Cafe Hayek talks with EconTalk host Russ Roberts about the intellectual legacy of Ronald Coase. The conversation centers on Coase's four most important academic articles. Most of the discussion is on two of those articles, "The Nature of the Firm," which continues to influence how economists think of firms and transaction costs, and "The Problem of Social Cost," Coase's pathbreaking work on externalities.