Learning and Forgetting the Wisdom of Coase
Learning and Forgetting the Wisdom of Coase / Severin Borenstein, Energy Economics Exchange, 9/09/2013
http://energyathaas.wordpress.com/2013/09/09/learning-and-forgetting-the-wisdom-of-coase/
I was an Assistant Professor at the University of Michigan in 1985 when our downsizing department library put a stack of old journals in the hallway for disposal. Walking by the pile, I spotted the 1960 Journal of Law and Economics in which Ronald Coase had the lead article, “The Problem of Social Cost.” I grabbed the issue and it has remained on my shelf ever since, even as I’ve expunged nearly all other hardcopy from my office…