A conversation with Ronald Coase

Ronald Coase (1910-2013), the greatest economist of the 20th century, is interviewed by legal scholar Richard A. Epstein. In the course of the 2001 interview a broad number of subjects are discussed, involving the intellectual activities Coase carried out, ranging from his interest in economics and law, his transition from socialism up to the various publications and theories laid out by him. The discussion includes discourse on the hows and whys of Coase's analyses, providing insights on topics like business firms, transaction costs, externalities and durable goods. We also learn what lead Coase to write articles such as "The Nature of the Firm", "Durability and Monopoly", "The Lighthouse in Economics" as well as "The Problem of Social Cost", which was considered to be the basis of what is known as the Coase theorem.


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