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Full-Text Articles in Law

The Coase Theorem And Arthur Cecil Pigou, Herbert J. Hovenkamp Dec 2008

The Coase Theorem And Arthur Cecil Pigou, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

In "The Problem of Social Cost" Ronald Coase was highly critical of the work of Cambridge University Economics Professor Arthur Cecil Pigou, presenting him as a radical government interventionist. In later work Coase's critique of Pigou became even more strident. In fact, however, Pigou's Economics of Welfare created the basic model and many of the tools that Coase's later work employed. Much of what we today characterize as the "Coase Theorem," including the relevance of transaction costs, externalities, and bilateral monopoly, was either stated or anticipated in Pigou's work. Further, Coase's extreme faith in private ...


Hotspots In A Cold War: The Naacp's Postwar Workplace Constitutionalism, 1948-1964, Sophia Z. Lee Jul 2008

Hotspots In A Cold War: The Naacp's Postwar Workplace Constitutionalism, 1948-1964, Sophia Z. Lee

Faculty Scholarship at Penn Law

No abstract provided.


James Wilson And The Drafting Of The Constitution, William Ewald Jun 2008

James Wilson And The Drafting Of The Constitution, William Ewald

Faculty Scholarship at Penn Law

No abstract provided.