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A founder of Law and Economics and one of the most influential economists of the 20th century, Ronald H. Coase has transformed the way we think about the economy, particularly the role played by the law and other institutions in coping with transaction costs. This volume brings together Coase’s thirteen major writings on law and economics that spread over half a century, including “The Federal Communications Commission” (1959) and “The Problem of Social Cost” (1960), to which law and economics owes its birth. While all writings have been published before, three posthumously. While law and economics is today practiced as a brand of “economic imperialism,” analyzing law from the perspective of modern price theory, Coase approached law and economics to discover and elucidate the significance of law to the working and evolution of the economy, particularly through the impact law has on what he called “the institutional structure of production.”

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