Markets, Firms and Property Rights - Ronald Coase

[@RalfLippold]

An amazing talk with 99 - brilliant in thought, and language !!! His paper "Nature of the Firm" still, and even more so today, holds true in our connected world, where knowledge, money, and products flow around the globe. #RonaldCoase

[@Gverri]

Brilliant mind! For those with difficulty following the slow pace imposed on him by his condition, I recommend you to watch it at 2x speed, much more enjoyable.

[@danielmcdonald3527]

Great idea. Never occurred to me to do this, particularly with elderly men who are naturally slower but nevertheless interesting. Thank you.

[@cdelducaragon]

Great recommendation , thank you!

[@technologyandinnovation4586]

I needed to ×200 pal, way ahead of you. Its a joke. This fellow talks very dense and you have to understand inbetween lines. Milton F talked fast even though he lacked any depth. As in any high places people are afraid to fall so they stay quiet. Staying quiet led to 2008 meltdown because of Milton free market economy derived and never fully acknowledged that idea was derived from Coase. Milton big mouth took full credit.

[@kasichettiar8361]

One of the greatest economics luminaries. Made the greatest strides in public economics especially externalities and social welfare economics since Arthur Cecil Pigou. So sharp at 99!

[@BinnyBongBaron_AoE]

Thank you so much sir, for taking the time to share your thoughts.

[@flavianepomuceno7465]

Thank you very much for making this jewel available, UChicago! It was a joy to see himself talking.

[@LewisMarkMonticello]

Thank you for posting. Amazing, bright and sharp at such age. Loved to hear his voice, read his book and articles, and had never had an opportunity to listen up. Coase and Keynes is intriguing as Posner.

[@Intothemarket101]

Thank you so much for sharing this data! Greatly appreciated.

[@anakornblume8849]

I like the part on Firms. It is true that they should be studied in practice. Hardly any Firm indeed is managed by equalling MC to MR.

[@veki3583]

With 101 Live your live thanks :) ❤️

[@ecolanguage]

I used an animated flow chart language to describe the dynamics of institutions and also to show how specialization and trade fits into this, here is the playlist: kzbin.info/www/bejne/fYTGamSuobZnZ9E

[@orchidhtay8706]

We are The kids

[@tonnyschnipper7429]

Still sharp at the age of 101:)

[@QuarioQuario54321]

He was 98 when this was this filmed. He died at 102 in 2013

[@AudioPervert1]

Say the right words - Ownership, ownership and ownership. End of Story.

[@earth4212]

Sounds perfect at 1.25x speed.

[@RyanPig]

Lel read coase

[@АлександрПивоваров-г6т]

йода.

[@kurry89]

Shot out. Also, markets definitely are not 'creations' in any sense. Manipulable perhaps, but markets are natural. This man is full of silliness.

[@andreb6196]

Markets exist only when entities exchange contracts i.e. are created when property rights are exchanged. A market is a definition of a process and is therefore unnatural. You tool.

[@kurry6060]

Andrew Benton A market is 'natural' in that it arises naturally when individuals engage in voluntary exchange. And I've no idea what you mean when you write.... "A market is a definition of a process..."(??) Google "definition" and "process" real quick and get back to me on how Webster's definitions complicate your comment. It sounds rather nonsensical if you know what those words mean. You also misunderstand the nature of contracts. A contract is merely a reasonably specific offer, accepted in a timely manner, where each side has assumed some legal obligation (consideration, if you will).... So you're kind of half right to the extent these obligations may or may not involve the exchange of property rights by one or more parties. Also don't call names. It makes you sound childish, detracts from any credibility you might have otherwise had, and won't help your self-esteem any :P

[@tueconomistapersonal]

You clearly know nothing about Coase's work and you do not understand what he means by saying that markets are creations.