One of the giants
Ronald Coase, the economist who explained why firms exist, died on September 2nd, aged 102
“I HAVE made no innovations in high theory,” was how Ronald Coase modestly summed up his life’s work. “My contribution to economics has been to urge the inclusion…of features of the economic system so obvious that…they have tended to be overlooked.” Attention to the overlooked helped Mr Coase transform both law and economics.
This article appeared in the Finance & economics section of the print edition under the headline “One of the giants”
From the September 7th 2013 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer