Ronald Coase’s contributions to economics were much broader than most economists recognise. His work was characterised by a rejection of ‘blackboard economics’ in favour of detailed case studies and a comparative analysis of real-world institutions. This column argues that the ‘Coase theorem’ as commonly understood is in fact antithetical to Coase’s approach to economics.
John Whalley, Xueyi Zheng , Yaguang Zhang, 20 July 2010
While many commentators focus on China’s future, this column draws economic theory insights from its past. It argues that Chinese monetary theory preceded Western thought and influenced the likes of Adam Smith and Karl Marx. Moreover, it says the Eastern emphasis on the pursuit of wisdom, as opposed to knowledge, has a role to play in today’s economic debate.
Most Read
Vox eBooks
Events
-
30 May - 1 June 2018 / Palma de Mallorca (Mallorca) - Spain / EAYE (European Association of Young Economists) - University of the Balearic Islands
-
18 - 19 June 2018 / European Central Bank, Frankfurt am Main, Germany / European Central Bank
-
12 - 13 September 2018 / Rome, Italy / European Center of Sustainable Development , CIT University
-
14 - 15 June 2018 / Ancona, Italy / Money and Finance Research Group (MoFiR), together with the Joint Research Centre of the European Commission and the Università Politecnica delle Marche
-
20 - 21 August 2018 / Goethe University Frankfurt / Central Bank Research Association (CEBRA) and the Research Center SAFE (Sustainable Architecture for Finance in Europe) at Goethe University Frankfurt
