Sunday Morning Quotation – Ronald Coase on Laissez-Faire vs. the Ideal

Nobel laureate in economics Ronald Coase in "The Problem of Social Cost": Actually very little analysis is required to show that an ideal world is better than a state of laissez faire, unless the definitions of a state of laissez faire and an ideal world happen to be the same. But the whole discussion is … Continue reading Sunday Morning Quotation – Ronald Coase on Laissez-Faire vs. the Ideal