A Quote by Ronald Coase

I tend to regard the Coase theorem as a stepping stone on the way to an analysis of an economy with positive transaction costs.

Ronald Coase

Quote Topics

Positive Analysis Costs Economy Regard Stepping Stepping Stone Stone Tend Theorem Transaction Way

Quote Author

Ronald Coase
British - Economist
December 29, 1910 - September 2, 2013

Ronald Coase, in his classic 1937 paper on 'The Nature of the Firm,' was the first to bring the concept of transaction costs to bear on the study of firm and market organization.

Oliver E. Williamson

I think I have met nearly all the Laureates in Economics. Among the few I haven't met, I suppose I'd most like to meet Ronald Coase because of his legendary power to persuade his colleagues of the validity of the Coase Theorem.

Eric Maskin

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

Ronald Coase

I'm no enthusiast for the Coase Theorem. I don't like it, but it's widely used.

Ronald Coase

Regardless of how it's done, transaction costs will continue to plummet as computers get more powerful. Low transaction costs are a wonderful thing if you're in the transaction business. They're wonderful for consumers too, making it cheaper and easier to buy things and creating new things to buy.

Nathan Myhrvold

In fact, a large part of what we think of as economic activity is designed to accomplish what high transaction costs would otherwise prevent or to reduce transaction costs so that individuals can negotiate freely and we can take advantage of that diffused knowledge of which Friedrich Hayek has told us.

Ronald Coase

People would be like, 'Oh, 'Saturday Night Live' is such a stepping stone!' And I remember being like, 'A stepping stone?! This is my everything! I could just stop right here! This is the pinnacle!'

Molly Shannon

The credit/debit card transaction system is antiquated, expensive, and inefficient. There are over nine steps to complete a transaction from the time a customer swipes their card to payment processing, settlement, and when the merchant finally gets paid. Every step along the way costs both the consumer and the vendor in additional fees.

Perianne Boring

I want to create an economy where minimum wage is a very brief stepping stone to higher-paying jobs so people can realize their dreams.

Thom Tillis

One of the biggest disagreements between Sen. Hagan and I - I don't believe we should be building an economy that's founded on making ends meet on minimum wage. It's impossible; it's a stepping stone.

Thom Tillis

If you have to prove a theorem, do not rush. First of all, understand fully what the theorem says, try to see clearly what it means. Then check the theorem; it could be false. Examine the consequences, verify as many particular instances as are needed to convince yourself of the truth. When you have satisfied yourself that the theorem is true, you can start proving it.

George Polya

Governorships and Senate seats are the most common stepping-stone offices for presidential campaigns, and U.S. House seats are the most common stepping-stone positions for statewide campaigns.

Steve Kornacki

Every thing thinks, but according to its complexity. If this is so, then stones also think...and this stone thinks only I stone, I stone, I stone. But perhaps it cannot even say I. It thinks: Stone, stone, stone... God enjoys being All, as this stone enjoys being almost nothing, but since it knows no other way of being, it is pleased with its own way, eternally satisfied with itself.

Umberto Eco

Nations that use commodity capitalism as a stepping-stone to a mixed economy based on commodity/intellectual capitalism will most likely become rich.

Michio Kaku

So long as knowledge goes beyond mere true belief, foreknowledge is implausible, since having and relying on relevant true beliefs is sufficient for inquiry. A stepping-stone version of prior true belief seems reasonable, though perhaps we should accept only an even weaker view: a stepping-stone version of roughly-accurate beliefs.