≡ Menu

Coase Theorem In Action

One way to deal with life’s annoyances is to poke a gun in the annoying person’s face and order him or her to do as you (rather than as he or she) pleases – or, what is the same thing, to outsource your gun-pointing and diktating to a specialist in that field.  Another, completely different way is peaceful commerce.  (HT Jon Murphy)