Who was one of the economists that influenced Coase's thinking?
John Maynard Keynes
Adam Smith
Karl Marx
Joseph Schumpeter
Answer
Adam Smith, an influential economist of the 18th century, played a significant role in shaping the economic thought of Ronald Coase. Smith's emphasis on individual self-interest, division of labor, and the role of markets in allocating resources laid a foundation for Coase's later work on the nature of the firm, externalities, and transaction costs.
Coase's Economic Conundrums: Unraveling the Legacy of a Nobel Laureate
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How did Coase view the role of government in dealing with externalities?
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Coase belonged to which economic field of study?
Which concept by Coase suggested a different approach to traditional antitrust policies?
What method did Coase advocate for to solve the "blackboard" problem of economics?
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