Description

Ronald Coase 19102013 was one of the most influential economists of the 20th century His influence is due largely to two publications the only two cited in the announcement of his Nobel Prize The Nature of the Firm 1937 and The Problem of Social Cost 1960 These two articles are among the mostcited works in economics The ideas Coase developed in these two works led to entirely new fields of inquiry in economics law management and political science and in conjunction with his article on using markets to allocate radio spectrum Coase 1959 spawned new market design theory and practice that helped to transform our society and enable innovation and digitization