2003 Coase Lecture by Ronald Coase - Part 4/6

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Time Codes

0:00 To cover cost and to maximize profit are essentially two ways of expressing the same thing.

0:45 Discussion of Chicago economists' objections of Coase's FCC idea.

2:19 The famous 2 hour long meeting of the minds of Coase at Aaron Director's home with Milton Friedman, George Stigler, and others.

4:19 Coase correcting Stigler's account of the discussion at Director's home.

5:00 The Problem of Social Cost.

6:28 Talking about "Coase Theorem" (or more precisely, Stigler's "Coase Theorem").

Video Copyright 2003 Ronald Coase and The University of Chicago Law School

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• Coase