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Coase Theorem In Action

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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)

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