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Undermining Property Rights: Coase and Becker

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Tags Free MarketsMonetary Theory

07/30/2014Gary North

“Coase, get your cattle off my land.” –Walter Block 

In one sentence, Walter Block called into question Ron Coase’s central conclusion in his now-famous theorem, namely, that the original distribution of ownership would not affect the allocation of scarce resources in a free market, if there were no transaction costs.

Volume 16, Number 4 (2002)

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North, Gary. "Undermining Property Rights: Coase and Becker." Journal of Libertarian Studies 16, No. 4 (2002): 75–100.