Don Boudreaux on Coase
EconTalk
00:00
The Inside of the Coast Is Not That One
Cost: Transactions costs aren't zero, and they're often not sufficiently low. The inside of the coast there is not that one. If c b s owns more of the electromagnetic spectrum than nbc and n p s can put it to better use. There's nothing fundamental about property rights per se that makes ma a different thing to exchange than physical things.
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