1966 AND ALL THAT: CODIFICATION, CONSOLIDATION, CREEP, AND CONTROVERSY IN THE EARLY HISTORY OF THE COASE THEOREM

Steven Medema ()

Journal of the History of Economic Thought, 2014, vol. 36, issue 3, 271-303

Abstract: The year 1966 was central to the history of the Coase theorem debates, featuring the entry of the idea of a ‘Coase theorem’ into economic discourse and the eruption of the controversy over the the correctness of Coase’s negotiation result. This paper examines economists’ treatments of Coase’s result in 1966 and through the remainder of the decade, a period during which its place in the professional discourse began to solidify and three ‘camps’ began to develop around it: those who believed Coase’s result correct but of limited real-world applicability, those who found it relevant for explaining and devising policy with regard to a wide swath of externality-related phenomena, and those who argued and purported to demonstrate that this result was simply incorrect or wrong-headed on one or another grounds.

Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:jhisec:v:36:y:2014:i:03:p:271-303_00

Access Statistics for this article

More articles in Journal of the History of Economic Thought from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().