The Contribution and Intellectual Legacy of Ronald Coase (1910–2013)

13 Pages Posted: 25 Jan 2014

Date Written: February 2014


Ronald Coase's work presents a continuing challenge to the established neoclassical paradigm. His incorporation of transactions cost into economic theory enables many questions of organisational structure to be addressed but also implies a world of continuing evolutionary change rather than static equilibrium. This article reviews some of Coase's most influential papers and considers their implications for the future of public policy and economic theory.

Keywords: contracts, exchange, firms, property rights, transactions cost

JEL Classification: B31, B52, D23

Suggested Citation

Ricketts, Martin, The Contribution and Intellectual Legacy of Ronald Coase (1910–2013) (February 2014). Economic Affairs, Vol. 34, Issue 1, pp. 46-58, 2014, Available at SSRN: or

Martin Ricketts (Contact Author)

University of Buckingham ( email )

Hunter Street
Buckingham MK18 1EG
United Kingdom

Do you want regular updates from SSRN on Twitter?

Paper statistics

Abstract Views
PlumX Metrics