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RONALD COASE’S “NATURE OF THE FIRM” AND THE ARGUMENT FOR ECONOMIC PLANNING

Published online by Cambridge University Press:  17 July 2014

PER L. BYLUND
PER L. BYLUND*
Affiliation:
Baylor University, Waco, TX. Email: [email protected].
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Abstract

Ronald Coase was in his early twenties when he developed his groundbreaking theory of the firm. This theory represented a new approach with no obvious precursors, but from where did it arise? This article traces the origins of Coase’s theory of the firm and provides a context for its formation. I argue that Coase’s arguments were rooted in the exchange of ideas in the Socialist Calculation Debate, and that, in this context, one could read his theory of the firm as an argument in defense of economic planning.

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Articles
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Journal of the History of Economic Thought , Volume 36 , Issue 3 , September 2014 , pp. 305 - 329
Copyright
Copyright © The History of Economics Society 2014 

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