Title
The Firm, the Market, and the Law,Used
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Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, 'most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject.' Coase's particular interest has been that part of economic theory that deals with firms, industries, and marketswhat is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. 'The Nature of the Firm' (1937) introduced the thenrevolutionary concept of transaction costs into economic theory. 'The Problem of Social Cost' (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics.'These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation.'Lewis A. Kornhauser, Journal of Economic LiteratureRonald H. Coase was awarded the Nobel Prize in Economic Science in 1991.
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- Q: How many pages does the book have? A: This book has two hundred twenty-six pages. It provides a comprehensive exploration of microeconomic principles through classic articles.
- Q: What are the dimensions of the book? A: The book measures eight and a half inches in length, five and thirty-nine hundredths inches in width, and five hundred sixty hundredths inches in height.
- Q: What type of binding does this book have? A: This book is available in paperback binding. This makes it lightweight and portable for easy reading.
- Q: Who is the author of this book? A: The author of this book is R.H. Coase. He is a renowned economist known for his work on firms and market dynamics.
- Q: What is the main focus of this book? A: The main focus of this book is microeconomics. It delves into the nature of firms and the market through foundational economic theories.
- Q: How do I read this book effectively? A: To read this book effectively, approach each essay with an understanding of microeconomic theory. Take notes on key concepts for deeper comprehension.
- Q: Is this book suitable for beginners in economics? A: Yes, this book is suitable for beginners in economics. Its clear exposition makes complex ideas accessible to those new to the subject.
- Q: What age group is this book appropriate for? A: This book is appropriate for adults and older students. It discusses advanced economic theories that may be challenging for younger readers.
- Q: How should I store this book to keep it in good condition? A: To keep this book in good condition, store it in a cool, dry place away from direct sunlight. Avoid bending the cover or spine.
- Q: Can this book be damaged easily? A: Yes, like most paperbacks, this book can be damaged easily if not handled carefully. Keep it away from moisture and excessive wear.
- Q: What if I receive a damaged copy of the book? A: If you receive a damaged copy of the book, contact the seller for a return or exchange. Most sellers offer support for such issues.
- Q: Is there a warranty for this book? A: No, books typically do not come with a warranty. However, check the seller's return policy for options if you're unsatisfied.
- Q: Are there any additional resources recommended for this book? A: Yes, additional resources include economic theory textbooks and academic journals. These can provide supplementary insights into Coase's arguments.
- Q: How does this book compare to other economics texts? A: This book stands out for its focus on the foundations of microeconomic theory. It offers a unique perspective compared to more general economics texts.
- Q: What topics are covered in the essays of this book? A: The essays cover topics like transaction costs and the role of law in economics. They analyze foundational concepts that affect market behavior.
- Q: Is prior knowledge of economics needed to understand this book? A: While not strictly necessary, some prior knowledge of economics will enhance understanding. Familiarity with basic concepts will be beneficial.