00:00    |    
Initial credits
The Intellectual Portrait series
Introducing Ronald H. Coase
Early years
Academic years
Key publications
Nobel Prize in Economic Science
04:54    |    
A conversation with Ronald H. Coase and Richard A. Epstein
05:07    |    
Who influenced you at the London School of Economics and what did they teach you?
Arnold Plant, professor of commerce at London School of Economics
Edwin Cannan
06:31    |    
How was your life once you moved to the United States, and who were the people who influenced you?
07:24    |    
Why do we have firms and what do they do?
Theory of the firm
Interviews with business men in the United States
Gradual transition from socialism into a market oriented economy
Basis of the article "The Nature of the Firm"
Interest in businesses and centralized planning of socialism
Impact of English brand of socialism
Elements that made the firm seem intelligible and sensible
Transaction cost
Managerial cost
Comparing costs
14:14    |    
What were other intellectual interesting duties you carried out?
Course on economic and public utilities
Monopoly in water supply
Unification of water supply companies
Water district arrangement
Was public utilities a mainstream subject in economics in the immediate post-war period?
Mail delivery system
Telegraph and broadcasting
Regulation of public utilities as a consequence of the expansion of the post office
Learning from study of public utilities
28:59    |    
Post-war period
Communication with colleagues during post-war period
Nature of the marginal cost controversy
Interest on the telephone service from greatest economists
Argument of the marginal cost controversy
Economic and political effect of monopoly and its relation with the British Broadcasting Corporation
Reasons to move to the United States
Work on the Federal Communications Commission
Creation of frequencies
39:24    |    
The Coase theorem
Meaning of the Coase theorem
Benefits from a lack of formal economics education
Efficiency of common law rules
Links between "The Nature of the Firm" and "The Problem of Social Cost"
Understanding of "The Problem of Social Cost" by lawyers and economists
49:01    |    
"The Lighthouse in Economics", Journal of Law and Economics(1974)
Discovery in investigations about lighthouses
Mechanism to collect tolls
Right to collect tolls granted from government
Political economy of lighthouses when taken over by the government
53:15    |    
"Durability and Monopoly", Journal of Law and Economics(1972)
Conditions on durable goods
Understanding goods as a whole
58:15    |    
Disagreement with Milton Friedman regarding the methodology of positive economics
01:00:26    |    
Advice for young generations of economists
01:01:32    |    
Final words
01:02:01    |    
Final credits




A Conversation with Ronald H. Coase

01 de agosto de 2001   | Vistas: 66 |  

During this interview, audiences may learn about the early beginnings and academic years of whom later became a Nobel Prize in Economic Science winner, Ronald H. Coase. A broad number of subjects are discussed, involving the intellectual activities he carried out, ranging from his interest in economics and law, his transition from socialism up to the various publications and theories laid out by him.

The interlocutors converse on the hows and whys of his analyses, providing insights on key terms like business firms, transaction costs, externalities, durable goods and future periods, which lead him to write articles such as "The Nature of the Firm", "Durability and Monopoly", "The Lighthouse in Economics", among many others, as well as "The Problem of Social Cost", which was considered to be the basis of what is known as the Coase theorem.

The interview concludes in his own Coasean pragmatic and realistic manner, as he advises economists to focus on the solutions of the existing real life problems.


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín