A bit more on Coasian hells
As a follow-up to this 8,000 pageview hellbeast, here’s an effort to dissect its central argument a bit more. I see maybe three points within it. First, there is an argument from transaction cost. This is simply that all those contracts need some lawyering. In itself this is probably the weakest of the three, and…
Read More A bit more on Coasian hells