Ronald Harry Coase (29 December 1910 – 2 September 2013) was a British economist and author. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991.
Coase believed economists should study real-world wealth creation, in the manner of Adam Smith, stating, "It is suicidal for the field to slide into a hard science of choice, ignoring the influences of society, history, culture, and politics on the working of the economy." He believed economic study should reduce emphasis on price theory or theoretical markets and instead focus on real markets. He established the case for the corporation as a means to pay the costs of operating a marketplace. Coase is best known for two articles: "The Nature of the Firm" (1937), which introduces the concept of transaction costs to explain the nature and limits of firms; and "The Problem of Social Cost" (1960), which suggests that well-defined property rights could overcome the problems of externalities if it were not for transaction costs (see Coase theorem). Additionally, Coase's transaction costs approach is currently influential in modern organizational economics, where it was reintroduced by Oliver E. Williamson.
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Some of their strengths
Ronald Coase has many admirable traits.
Based on spiritual traditions from around the world, they are someone who can be described as Energetic, Reliable, Loyal, Adventurous, Honest, Caring, and Ambitious.
Smart and Hardworking
According to Mysticism’s Astrology tradition, Ronald Coase is someone who is a smart, hardworking, reliable, and loyal person, who is detail-oriented and orderly, but also generous and optimistic. A person who is known for being a good partner.
Constant and Serious
Based on Daoism’s Ba-Zi or ‘Chinese Zodiac’ tradition, people who know Ronald Coase well know them as someone who can be determined, unmoving, and firm, like a rock or a high mountain.
Inventive and Clever
According to Hinduism’s Jyotisha or ‘Vedic Astrology’ tradition, many would also describe Ronald Coase as someone who is flexible, intelligent, and quick-witted.
A person who likes to be creative, and to be recognized for their artistic talents. Who possesses intelligence, mental discipline, and ambition, and who does well in relationships and partnerships.
Altruistic and Ambitious
Based on the Mayan Tzolk’in or ‘Mayan Astrology’ tradition, Ronald Coase is someone who is the type of person who rallies behind a group, cause, or community, and who enjoys being dedicated to a higher cause of some sort.
They are also someone who is confident and creative, and who has a love for starting new projects, inventing new things, and giving back to the community.
Patient and Perseverent
According to Judaism’s Kabbalah tradition, Ronald Coase tends to be someone who is patient, faithful, hardworking and persistent, and who wants to achieve a lot in life. Who tends to be rather private when it comes to expressing feelings, enjoys being independent and self-sufficient, and who is not afraid of any obstacle.
Some of Ronald Coase's challenges
While Ronald Coase has many strengths, nobody is perfect. They also have some challenging traits they need to manage.
For example, Ronald Coase can be Stubborn, Suspicious, Impulsive, Careless, Emotional, Standoffish, and Unfocused.
Suspicious and Stubborn
One of Ronald Coase's key challenges is that they are someone who can be suspicious and stubborn.
Unfocused and Indecisive
Ronald Coase is someone who can be scattered, restless, and insensitive, be distracted by fluctuating professional interests, be a workaholic, and who can be arrogant and have difficulty accepting advice.
Callous and Stubborn
Finally, Ronald Coase also can come across as cold and unemotional, be too dismissive of others' opinions, and be overly suspicious, selfish and crafty.
