The tools used by economists to analyze business firms are too abstract and speculative to offer any guidance to entrepreneurs and managers in their constant struggle to bring novel products to consumers at low cost. Ronald Coase abstractanalyzebring share on social
People have used my views for purposes which are very different from mine. Ronald Coase minepeoplepurpose Change image and share on social
I've been wrong so often, I don't find it extraordinary at all. Ronald Coase extraordinaryfindhave Change image and share on social
You should not forget that without all the work in law and economics, a great part of which has been supported by the John M. Olin Foundation, it is doubtful whether the importance of my work would have been recognized. Ronald Coase doubtfuleconomicsforget share on social
Roughly speaking, when you are dealing with business firms operating in a competitive system, you can assume that they're going to act rationally. Why? Because someone in a firm who buys things at $10 and sells them for $8.00 isn't going to last very long in that firm. Ronald Coase actassumebusiness share on social
You wouldn't think there was a need for a Coase Theorem, really. Ronald Coase coasetheorem Change image and share on social
Technology is at a point where we should allow multiple parties to occupy the same spectral space. Ronald Coase multipleoccupyparty Change image and share on social
There is no doubt that the recognition by economists of the importance of the role of the firm in the functioning of the economy will prompt them to investigate its activities more closely. Ronald Coase activitycloselydoubt Change image and share on social
Economics as currently presented in textbooks and taught in the classroom does not have much to do with business management, and still less with entrepreneurship. Ronald Coase businessclassroomeconomics Change image and share on social
I'm no enthusiast for the Coase Theorem. I don't like it, but it's widely used. Ronald Coase coaseenthusiasttheorem Change image and share on social
