One of the giants
Ronald Coase, the economist who explained why firms exist, died on September 2nd, aged 102
“I HAVE made no innovations in high theory,” was how Ronald Coase modestly summed up his life’s work. “My contribution to economics has been to urge the inclusion…of features of the economic system so obvious that…they have tended to be overlooked.” Attention to the overlooked helped Mr Coase transform both law and economics.
This article appeared in the Finance & economics section of the print edition under the headline “One of the giants”
From the September 7th 2013 edition
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