The Coase Theorem?

The Coase Theorem – postulated by economist Ronald Coase in 1937 which led to a Nobel Prize in Economics for Dr. Coase in 1991 – essentially states that when a conflict of property rights arises between two parties in which externalities are involved, th

Before I try to save author Richard Epstein's soul, I'm happy to celebrate his mind and heart. This new book by the NYU law school professor and senior Hoover fellow is yet another in a long stream of magnificent defenses of the free market, in which the

“If this works out well, I plan to do follow up Mises Academy presentations on environmentalism, the evils of Ronald Coase, on Austrianism, mathematical economics and econometrics, and on privatizing roads (the subject of another book of mine).” So if yo

For those unfamiliar with Ronald Coase, he is the 101-year-old Nobel Laureate who laid a number of the foundations for law and economics when he published his Nature of the Firm (which explained why people would use corporate forms instead of just contra

So George has found an argument which he thinks is terribly persuasive. Libertarians, right wing loons generally, face a horrible problem because they believe in property rights. The problem being that pollution affects property so therefore libertarians