Abstract:In 1959, Ronald Coase entered the Chicago home of Aaron Director for what was to be an unusual dinner party. The host and other guests were a who’s who of University of Chicago economists, including M...In 1959, Ronald Coase entered the Chicago home of Aaron Director for what was to be an unusual dinner party. The host and other guests were a who’s who of University of Chicago economists, including Milton Friedman, George Stigler, Arnold Harberger, John McGee, and fifteen others. The British-born and soft-spoken Coase, an economics professor at the University of Virginia, was in town to present a new paper at the university. In an earlier paper on the regulation of radio by the Federal Communications Commission, just published in the Journal of Law and Economics, Coase had made an argument that the Chicago crowd considered interesting but erroneous. The dinner was arranged to give Coase the chance he had requested to convince the skeptics that his argument was correct.Read More
Publication Year: 2012
Publication Date: 2012-04-09
Language: en
Type: book-chapter
Indexed In: ['crossref']
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