Pre-reading
(1910-2013) , , andlegalscholarsshouldfocusontheimportanceofanefficientmarketplaceandonnegotiationratherthanlitigation.
Coaseisoftenreferredtoasthe “father” ofreforminthepolicyforallocationoftheelectromagneticspectrum, basedonhisarticleTheFederalCommunicationsCommission (1959), wherehecriticizesspectrumlicensing, (1937), (1960), hesuggeststhatwell-definedpropertyrightscouldovercometheproblemsofexternalities.Hewonthe1991NobelMemorialPrizeinEconomicSciences.
Additionally, Coase’stransactioncostsapproachiscurrentlyinfluentialinmodernorganizationaleconomics, .
ThefollowingpassageisfromCoase’sNobelprizelecture (1991) TheInstitutionalStructureofProduction.
PromptsforYourReading
? LearnaboutthebookanditsauthorAdamSmith.
, theeconomyshouldbecoordinatedbythe “invisiblehand”, ratherthanthe “visiblehand”, “hands” refertorespectively? Inthispassage, whatisCoase’sview?
’sargumentdifferentfromorthodoxeconomics? Whatarethelimitationsofmoderneconomics?
?
, “.” Whatdoes “thistheory” referto? Whatdoyouthinkarethegainsandlossesofmoderneconomics?
?
“blackboardeconomics”?
? Howaretheideasconnectedinthispassage?
[1] DuringthetwocenturiessincethepublicationofTheWealthofNations1themainactivityofeconomists, itseemstome, hasbeentofillthegapsinAdamSmith2’ssystem, (the “invisiblehand”) and, furthermore, withbeneficialresults.
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综合英语西方经典文学作品电子版
综合英语西方思想经典选读
综合英语西方思想经典选读电子版