Economics, Econometrics and Finance
4 years ago

R. H. Coase's Theory Revolutionizes Economic Policy and Development.

Politická ekonomie
Transakčné náklady, vlastnícke práva a externality - k vedeckému odkazu R. H. Coasea [Transaction Costs, Property Rights and Externalities - on the Contribution of R. H. Coase to Economic]
Anetta Čaplánová, Marcel Novák

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The article discusses how R. H. Coase's ideas have influenced economics, focusing on transaction costs, property rights, and externalities. Coase is known for his work in new institutional economics and Law and Economics. His theories emphasize the importance of well-defined property rights and considering real-world economic factors. Coase's contributions have shaped economic theory and policy, highlighting the need to understand transaction costs and the institutional framework for economic development.