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1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem

Publication ,  Journal Article
Medema, SG
Published in: Journal of the History of Economic Thought
January 1, 2014

The year 1966 was central to the history of the Coase theorem debates, featuring the entry of the idea of a 'Coase theorem' into economic discourse and the eruption of the controversy over the the correctness of Coase's negotiation result. This paper examines economists' treatments of Coase's result in 1966 and through the remainder of the decade, a period during which its place in the professional discourse began to solidify and three 'camps' began to develop around it: those who believed Coase's result correct but of limited real-world applicability, those who found it relevant for explaining and devising policy with regard to a wide swath of externality-related phenomena, and those who argued and purported to demonstrate that this result was simply incorrect or wrong-headed on one or another grounds. © 2014 The History of Economics Society.

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Published In

Journal of the History of Economic Thought

DOI

EISSN

1469-9656

ISSN

1042-7716

Publication Date

January 1, 2014

Volume

36

Issue

3

Start / End Page

271 / 303

Related Subject Headings

  • History of Social Sciences
  • 4303 Historical studies
  • 3803 Economic theory
  • 3801 Applied economics
  • 2202 History and Philosophy of Specific Fields
  • 1606 Political Science
  • 1401 Economic Theory
 

Citation

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Medema, S. G. (2014). 1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem. Journal of the History of Economic Thought, 36(3), 271–303. https://doi.org/10.1017/S1053837214000340
Medema, S. G. “1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem.” Journal of the History of Economic Thought 36, no. 3 (January 1, 2014): 271–303. https://doi.org/10.1017/S1053837214000340.
Medema SG. 1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem. Journal of the History of Economic Thought. 2014 Jan 1;36(3):271–303.
Medema, S. G. “1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem.” Journal of the History of Economic Thought, vol. 36, no. 3, Jan. 2014, pp. 271–303. Scopus, doi:10.1017/S1053837214000340.
Medema SG. 1966 and all that: Codification, consolidation, creep, and controversy in the early history of the coase theorem. Journal of the History of Economic Thought. 2014 Jan 1;36(3):271–303.
Journal cover image

Published In

Journal of the History of Economic Thought

DOI

EISSN

1469-9656

ISSN

1042-7716

Publication Date

January 1, 2014

Volume

36

Issue

3

Start / End Page

271 / 303

Related Subject Headings

  • History of Social Sciences
  • 4303 Historical studies
  • 3803 Economic theory
  • 3801 Applied economics
  • 2202 History and Philosophy of Specific Fields
  • 1606 Political Science
  • 1401 Economic Theory