EconTalk Ronald Coase on Externalities, the Firm, and the State of Economics
May 21, 2012
Nobel Laureate Ronald Coase shares insights on his career in economics, his influential papers on firms and social costs, interactions with Keynes and Hayek, and perspectives on the Chinese economy. Discussions include the nature of firms, decision-making processes, trial and error, public choice theory, and China's transformation to a capitalist economy. The episode closes with optimism for the future and appreciation for the guest.
Chapters
Transcript
Episode notes
1 2 3 4 5 6 7
Intro
00:00 • 3min
Influences, Reflection, and Impact in Economics
03:06 • 19min
Interactions with Keynes and Hayek in England
22:29 • 2min
Exploring the Nature of Firms and Decision-making Processes
24:42 • 15min
Discussion on Trial and Error, Military Mistakes, and Public Choice at the University of Virginia
39:16 • 4min
Economic Perspectives on China's Transformation
43:36 • 15min
Optimism for the Future and Appreciation for the Guest
58:20 • 2min