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Ronald Coase is one of the most important economists of the twentieth century. Amongst other great achievements, Coase taught us why firms exist and how we can better understand how to solve enviromental problems. He also made a profound contribution to our understanding of the provision of so-called public goods and helped join the often distinct intellectual fields of law and economics. The autors of this book apply Coase's ideas to a number of different areas of economics and, in doing so, provide a practical and very readable introduction to topics that have direct relevance for regulation and public policy.

Coase is one of the few economists to have a theorem named after them. as autors in the present volume explain, and as he humself later indicated, he didn't like the Coase Theorem. But he didn't protest at the time, or for some years thereafter. It was because of his respect and affection for his friend and colleagueGeorge Stigler, the proponent of the theoreme.

Cento Veljanovski,Editor

Dr Cento Veljanovski, Editor is Managing Partner of Case Associates, and IEA Fellow in Law & Economics.He has written many books and articles on industrial economics, economic reform and low and economicsq including: Selling the State: Privatisation in Britain, The Economics of Low and Economic Principles of Low.