The Art of Tetman Callis

Some of the stories and poems may be inappropriate for persons under 16

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Entries Tagged as 'R. H. Coase'

Zero-sum, but not a game

January 17th, 2014 · No Comments

“It would clearly be desirable if the only actions performed were those in which what was gained was worth more than what was lost. But in choosing between social arrangements within the context of which individual decisions are made, we have to bear in mind that a change in the existing system which will lead […]

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Tags: Economics · Politics & Law · R. H. Coase

Incremental steps along the road to perdition

January 16th, 2014 · No Comments

“Very little analysis is required to show that an ideal world is better than a state of laissez faire, unless the definitions of a state of laissez faire and an ideal world happen to be the same. But the whole discussion is largely irrelevant for discussions of economic policy since whatever we may have in […]

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Tags: Economics · Politics & Law · R. H. Coase

Law and ordering an economy

January 15th, 2014 · No Comments

“The problem which we face in dealing with actions which have harmful effects is not simply one of restraining those responsible for them. What has to be decided is whether the gain from preventing the harm is greater than the loss which would be suffered elsewhere as a result of stopping the action which produces […]

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Tags: Economics · Politics & Law · R. H. Coase