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An Economist In The Law and Economics Approach: Ronald H. Coase

Year 2020, Volume: 27 Issue: 2, 199 - 217, 24.08.2020
https://doi.org/10.18657/yonveek.605913

Abstract

Ronald H. Coase has made significant
contributions to the development of the Law and Economy approach as an
Economist. For this reason, the main purpose of this article is to examine Coase’s
methodology. With the help of his articles in this direction, his views on the
science of law and economics, Criticisms made to him and his solution to the
problem of externality were analyzed. According to this, giving importance to
Reality in economics, avoiding mathematical techniques and being against
economic imperialism show Coase’s methodological differences. Examining the
working principle of economic systems to benefit from legal cases has brought a
new solution to the problem of externality. In this paralel, the solution of
Coase is based on the obligations of both sides and the problems of externality
with lower cost are solved by mutual agreement of the parties without state
regulations. However, property rights must be clearly defined in order for the
parties to tend to agree. Thus, Coase’s methodology emphasizes the importance
of law in the economic problems.

References

  • Acemoğlu, D. (2002), “Why Not a Political Coase Theorem?”, Social Conflict, Commitment and Politics, NBER Working Paper, No. 9377.
  • Aslanbeigui, N. & S. Medema (1998), “Beyond the Dark Clouds: Pigou and Coase on Social Cost”, History of Political Economy, 30(4), 601-625.
  • Backhaus, J. G. (2001), “Economic Principles of Constitutions: An Economic Analysis of Constitutional Law”, The Independent Instute, Working Paper No. 40.
  • Cameron, A. (1995), “Coase on Law and Economics”, Mimeo, https://pdfs.semanticscholar.org/e3f8/0d097342f6abb416d7511b8842f74d50f920.pdf, 06.04.2019.
  • Coase, R. H. (1937), “The Nature of the Firm”, Economica, New Series, Vol. 4, No. 16., 386-405.
  • Coase, R. H. (1959), “The Federal Communications Commission”, The Journal Of Law and Economics, Vol.2, 1-40.
  • Coase, R. H. (1960), “The Problem of Social Cost”, Journal of Law and Economics, Vol.3, 1-44.
  • Coase, R. H. (1978), “Economics and Contiguous Disciplines”, The Journal of Legal Studies, Vol. 7, No.2, 201-211.
  • Coase, R. H. (1988), “The Nature of the Firm: Influence, Journal of Law”, Economics and Organization, Vol.4, No.1, 33-47.
  • Coase, R. H. (1992), “The Institutional Structure of Production”, The American Economic Review, 82(4), 713-719.
  • Coase, R. H. (1993), “Law and Economics at Chicago”, The Journal of Law and Economics, 36(1), , 239-254.
  • Coase, R. H. (1996), “Law and Economics and A. W. Brian Simpson”, The Journal of Legal Studies, 25(1), 103-119.
  • Coase, R. H. (1998), “The New Institutional Economics”, American Economic Review, 88(2), 72-74.
  • Cole, D. H. & P. Z. Grossman (2004), Principles of Law and Economics, Pearson-Prentice Hall, New Jersey.
  • Cooter, R. & T. Ulen (2016), “Law and Economics”, 6. Edition, Berkeley Law Books, http://scholarship.law.berkeley.edu/books/2, 5.01.2019.
  • Daly, G. & F. Giertz (1975), “Externalities, Extortion and Efficiency”, The American Economic Review, 65(5), 997-1001.
  • Ersel, H. (2013), “Ronald Coase ve İktisatta Dışsallık Sorunu”, İktisat ve Toplum Dergisi, Sayı 36, 43-48.
  • Eryılmaz, F. (2015a). “An Economic View on Politics: Public Choice Theory”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 367- 381.
  • Eryılmaz, F. (2015b). “The Effects of Elections on Turkish Economy: Evidence from Money Supply”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 520- 531.
  • Friedman, D. (2000), Law’s Order: An Economic Account, Priceton University Press, New York.
  • Gelter, M. & K.. Grechenig (2014), “History of Law and Economics”, Preprints of the Max Planck Institute for Research on Collective Goods, Bonn 2014/5, 1-10.
  • Harnay, S. & A. Marciano (2009), “Posner, Economics and the Law: From Law and Economics to an Economic Analysis of Law”, Journal of the History of Economic Thought, 31(2), 215-232.
  • Hazlett, T. (1997), “Looking for Results: An Interview with Ronald Coase”, From the January 1997 Issue, https://reason.com/1997/01/01/looking-for-results/, 06.04.2019.
  • Hovenkamp, H. (1990), “The First Great Law and Economics Movement”, Stanford Law Review, 42(4), 993-1058.
  • Hovenkamp, H. (1995), “Law and Economics in the United States: A Brief Historical Survey”, Cambridge Journal of Economics, No. 19, 331-352.
  • Landes, W. M. (2003), “The Empirical Side of Law and Economics”, The University of Chicago Law Review, Vol.70, No.1, Centennial Tribute Essays, 167-180.
  • Lewkowicz, J. (2018), “What is Law and Economics and How Could It Have Contributed to Preventing the Global Crisis?”, Entrepreneurial Business and Economics Review, 6(3), 89-101.
  • Mackaay, E. (2000), History of Law and Economics, Encyclopedia of Law and Economics, Vol. 1, UK: Edward Elgar Publishing, Cheltenham.
  • Manne, H. G. (1993), “An Intellectual History of the George Mason University School of Law”, Law and Economics Center, https://www.law.gmu.edu/about/history, 06.04.2019.
  • Marciano, A. (2010), “Calabresi, “Law and Economics” and The Coase Theorem”, ICER Working Paper Series, Paper No. 26/2010.
  • Marciano, A. (2011), “Ronald Coase, “The Problem of Social Cost” and The Coase Theorem: An Anniversary Celebration”, European Journal of Law and Economics, 31(1), 1-9.
  • Marciano, A. (2017), “Ronald H. Coase (1910-2013)”, SSRN Paper, https://ssrn.com/abstract=3113241, 06.04.2019.
  • Medema, S. (2014), “Debating Law’s Irrelevance: Legal Scholarship and the Coase Theorem in the 1960s”, Texas A-M Law Review, Vol 2, Issue 2, 159-213.
  • Mercuro, M. & S. G. Medema (1997), Economics and the Law, Princeton University Press, Princeton. Polinsky, M. (1989), An Introduction to Law and Economics, Little Brown and Co . Law and Business, Boston.
  • Porrata-Doria, R. & M. Grondona (2016), “Guido Calabresi’s The Future of Law and Economics”, The Italian Law Journal, Vol.02, No.02, 523-534.
  • Posner, R. A. (1975), “The Economic Approach to the Law”, Texas Law Review, No.53, 757-782.
  • Posner, R. A. (1993), “Ronald Coase and Methodology”, Journal of Economic Perspectives, Vol. 7, No.4, 195-210.
  • Rowley, C. K. (1989), “Public Choice and Economic Analysis of Law”, N. Mercuro(Ed.), Law and Economics içinde, Kluwer Academic Publishers, Boston, 123-173.
  • Salama, B. (2013), “The Art of Law and Macroeconomics”, DIREITO GV Research Paper Series – Legal Studies, Paper No.73.
  • Salzberger, Eli M. (2007), “The Economic Analysis of Law – The Dominant Methodology for Legal Research?”, University of Haifa Faculty of Law Legal Studies Research Paper No. 1044382.
  • Schlafly, A. L. (2007), “The Coase Theorem: The Greatest Economic Insight of the 20th Century”, Journal of American Physicians and Surgeons, No: 12, 45-47.
  • Stigler, G; (1966), The Theory of Price, Macmillan Library Reference, New York.
  • Stigler, G. J. (1992), “Law or Economics?”, The Journal of Law and Economics, 35(2), 455-468.
Year 2020, Volume: 27 Issue: 2, 199 - 217, 24.08.2020
https://doi.org/10.18657/yonveek.605913

Abstract

References

  • Acemoğlu, D. (2002), “Why Not a Political Coase Theorem?”, Social Conflict, Commitment and Politics, NBER Working Paper, No. 9377.
  • Aslanbeigui, N. & S. Medema (1998), “Beyond the Dark Clouds: Pigou and Coase on Social Cost”, History of Political Economy, 30(4), 601-625.
  • Backhaus, J. G. (2001), “Economic Principles of Constitutions: An Economic Analysis of Constitutional Law”, The Independent Instute, Working Paper No. 40.
  • Cameron, A. (1995), “Coase on Law and Economics”, Mimeo, https://pdfs.semanticscholar.org/e3f8/0d097342f6abb416d7511b8842f74d50f920.pdf, 06.04.2019.
  • Coase, R. H. (1937), “The Nature of the Firm”, Economica, New Series, Vol. 4, No. 16., 386-405.
  • Coase, R. H. (1959), “The Federal Communications Commission”, The Journal Of Law and Economics, Vol.2, 1-40.
  • Coase, R. H. (1960), “The Problem of Social Cost”, Journal of Law and Economics, Vol.3, 1-44.
  • Coase, R. H. (1978), “Economics and Contiguous Disciplines”, The Journal of Legal Studies, Vol. 7, No.2, 201-211.
  • Coase, R. H. (1988), “The Nature of the Firm: Influence, Journal of Law”, Economics and Organization, Vol.4, No.1, 33-47.
  • Coase, R. H. (1992), “The Institutional Structure of Production”, The American Economic Review, 82(4), 713-719.
  • Coase, R. H. (1993), “Law and Economics at Chicago”, The Journal of Law and Economics, 36(1), , 239-254.
  • Coase, R. H. (1996), “Law and Economics and A. W. Brian Simpson”, The Journal of Legal Studies, 25(1), 103-119.
  • Coase, R. H. (1998), “The New Institutional Economics”, American Economic Review, 88(2), 72-74.
  • Cole, D. H. & P. Z. Grossman (2004), Principles of Law and Economics, Pearson-Prentice Hall, New Jersey.
  • Cooter, R. & T. Ulen (2016), “Law and Economics”, 6. Edition, Berkeley Law Books, http://scholarship.law.berkeley.edu/books/2, 5.01.2019.
  • Daly, G. & F. Giertz (1975), “Externalities, Extortion and Efficiency”, The American Economic Review, 65(5), 997-1001.
  • Ersel, H. (2013), “Ronald Coase ve İktisatta Dışsallık Sorunu”, İktisat ve Toplum Dergisi, Sayı 36, 43-48.
  • Eryılmaz, F. (2015a). “An Economic View on Politics: Public Choice Theory”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 367- 381.
  • Eryılmaz, F. (2015b). “The Effects of Elections on Turkish Economy: Evidence from Money Supply”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 520- 531.
  • Friedman, D. (2000), Law’s Order: An Economic Account, Priceton University Press, New York.
  • Gelter, M. & K.. Grechenig (2014), “History of Law and Economics”, Preprints of the Max Planck Institute for Research on Collective Goods, Bonn 2014/5, 1-10.
  • Harnay, S. & A. Marciano (2009), “Posner, Economics and the Law: From Law and Economics to an Economic Analysis of Law”, Journal of the History of Economic Thought, 31(2), 215-232.
  • Hazlett, T. (1997), “Looking for Results: An Interview with Ronald Coase”, From the January 1997 Issue, https://reason.com/1997/01/01/looking-for-results/, 06.04.2019.
  • Hovenkamp, H. (1990), “The First Great Law and Economics Movement”, Stanford Law Review, 42(4), 993-1058.
  • Hovenkamp, H. (1995), “Law and Economics in the United States: A Brief Historical Survey”, Cambridge Journal of Economics, No. 19, 331-352.
  • Landes, W. M. (2003), “The Empirical Side of Law and Economics”, The University of Chicago Law Review, Vol.70, No.1, Centennial Tribute Essays, 167-180.
  • Lewkowicz, J. (2018), “What is Law and Economics and How Could It Have Contributed to Preventing the Global Crisis?”, Entrepreneurial Business and Economics Review, 6(3), 89-101.
  • Mackaay, E. (2000), History of Law and Economics, Encyclopedia of Law and Economics, Vol. 1, UK: Edward Elgar Publishing, Cheltenham.
  • Manne, H. G. (1993), “An Intellectual History of the George Mason University School of Law”, Law and Economics Center, https://www.law.gmu.edu/about/history, 06.04.2019.
  • Marciano, A. (2010), “Calabresi, “Law and Economics” and The Coase Theorem”, ICER Working Paper Series, Paper No. 26/2010.
  • Marciano, A. (2011), “Ronald Coase, “The Problem of Social Cost” and The Coase Theorem: An Anniversary Celebration”, European Journal of Law and Economics, 31(1), 1-9.
  • Marciano, A. (2017), “Ronald H. Coase (1910-2013)”, SSRN Paper, https://ssrn.com/abstract=3113241, 06.04.2019.
  • Medema, S. (2014), “Debating Law’s Irrelevance: Legal Scholarship and the Coase Theorem in the 1960s”, Texas A-M Law Review, Vol 2, Issue 2, 159-213.
  • Mercuro, M. & S. G. Medema (1997), Economics and the Law, Princeton University Press, Princeton. Polinsky, M. (1989), An Introduction to Law and Economics, Little Brown and Co . Law and Business, Boston.
  • Porrata-Doria, R. & M. Grondona (2016), “Guido Calabresi’s The Future of Law and Economics”, The Italian Law Journal, Vol.02, No.02, 523-534.
  • Posner, R. A. (1975), “The Economic Approach to the Law”, Texas Law Review, No.53, 757-782.
  • Posner, R. A. (1993), “Ronald Coase and Methodology”, Journal of Economic Perspectives, Vol. 7, No.4, 195-210.
  • Rowley, C. K. (1989), “Public Choice and Economic Analysis of Law”, N. Mercuro(Ed.), Law and Economics içinde, Kluwer Academic Publishers, Boston, 123-173.
  • Salama, B. (2013), “The Art of Law and Macroeconomics”, DIREITO GV Research Paper Series – Legal Studies, Paper No.73.
  • Salzberger, Eli M. (2007), “The Economic Analysis of Law – The Dominant Methodology for Legal Research?”, University of Haifa Faculty of Law Legal Studies Research Paper No. 1044382.
  • Schlafly, A. L. (2007), “The Coase Theorem: The Greatest Economic Insight of the 20th Century”, Journal of American Physicians and Surgeons, No: 12, 45-47.
  • Stigler, G; (1966), The Theory of Price, Macmillan Library Reference, New York.
  • Stigler, G. J. (1992), “Law or Economics?”, The Journal of Law and Economics, 35(2), 455-468.

Hukuk ve İktisat Yaklaşımında Bir İktisatçı: Ronald H. Coase

Year 2020, Volume: 27 Issue: 2, 199 - 217, 24.08.2020
https://doi.org/10.18657/yonveek.605913

Abstract

Hukuk ve iktisat yaklaşımının gelişiminde bir iktisatçı olarak Ronald H. Coase’un önemli katkıları bulunmaktadır. Bu önemden dolayı Coase’un metodolojisinin incelenmesi makalenin temel amacını oluşturmaktadır. Bu doğrultuda yazdığı makaleler yardımıyla hukuk ve iktisat bilimleriyle ilgili görüşleri, kendisine yapılan eleştiriler ve dışsallık problemine getirdiği çözüm analiz edilmiştir. Buna göre iktisatta gerçekliğe önem vermesi, matematiksel tekniklerden uzak durması ve ekonomik emperyalizme karşı olması Coase’un metodolojik farklılıklarını göstermektedir. İktisadi sistemlerin çalışma prensibini incelerken hukuksal davalardan yararlanması dışsallık sorunsalına yeni çözüm getirmesini sağlamıştır. Bu paralelde Coase çözümünde her iki tarafın yükümlülüklerine bakılarak devlet düzenlemeleri olmadan tarafların karşılıklı anlaşma yoluyla daha düşük maliyetle dışsallık problemi giderilmektedir. Ancak tarafların karşılıklı anlaşabilme eğiliminde olması için mülkiyet haklarının belirgin olarak tanımlanması gerekmektedir. Dolaysıyla Coase’un metodolojisi iktisadi problemlerin çözümünde hukukun önemli olduğunu vurgulamaktadır.
Anahtar Kelimeler: Coase Teoremi, İşlem Maliyetleri, Hukuk ve İktisat Yaklaşımı, Dışşsallık.
JEL Sınıflandırması: B31, D23, D62, K00

References

  • Acemoğlu, D. (2002), “Why Not a Political Coase Theorem?”, Social Conflict, Commitment and Politics, NBER Working Paper, No. 9377.
  • Aslanbeigui, N. & S. Medema (1998), “Beyond the Dark Clouds: Pigou and Coase on Social Cost”, History of Political Economy, 30(4), 601-625.
  • Backhaus, J. G. (2001), “Economic Principles of Constitutions: An Economic Analysis of Constitutional Law”, The Independent Instute, Working Paper No. 40.
  • Cameron, A. (1995), “Coase on Law and Economics”, Mimeo, https://pdfs.semanticscholar.org/e3f8/0d097342f6abb416d7511b8842f74d50f920.pdf, 06.04.2019.
  • Coase, R. H. (1937), “The Nature of the Firm”, Economica, New Series, Vol. 4, No. 16., 386-405.
  • Coase, R. H. (1959), “The Federal Communications Commission”, The Journal Of Law and Economics, Vol.2, 1-40.
  • Coase, R. H. (1960), “The Problem of Social Cost”, Journal of Law and Economics, Vol.3, 1-44.
  • Coase, R. H. (1978), “Economics and Contiguous Disciplines”, The Journal of Legal Studies, Vol. 7, No.2, 201-211.
  • Coase, R. H. (1988), “The Nature of the Firm: Influence, Journal of Law”, Economics and Organization, Vol.4, No.1, 33-47.
  • Coase, R. H. (1992), “The Institutional Structure of Production”, The American Economic Review, 82(4), 713-719.
  • Coase, R. H. (1993), “Law and Economics at Chicago”, The Journal of Law and Economics, 36(1), , 239-254.
  • Coase, R. H. (1996), “Law and Economics and A. W. Brian Simpson”, The Journal of Legal Studies, 25(1), 103-119.
  • Coase, R. H. (1998), “The New Institutional Economics”, American Economic Review, 88(2), 72-74.
  • Cole, D. H. & P. Z. Grossman (2004), Principles of Law and Economics, Pearson-Prentice Hall, New Jersey.
  • Cooter, R. & T. Ulen (2016), “Law and Economics”, 6. Edition, Berkeley Law Books, http://scholarship.law.berkeley.edu/books/2, 5.01.2019.
  • Daly, G. & F. Giertz (1975), “Externalities, Extortion and Efficiency”, The American Economic Review, 65(5), 997-1001.
  • Ersel, H. (2013), “Ronald Coase ve İktisatta Dışsallık Sorunu”, İktisat ve Toplum Dergisi, Sayı 36, 43-48.
  • Eryılmaz, F. (2015a). “An Economic View on Politics: Public Choice Theory”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 367- 381.
  • Eryılmaz, F. (2015b). “The Effects of Elections on Turkish Economy: Evidence from Money Supply”, Turkey at the Beginning of 21st Century: Past and Present, Bulgaria: Sofia University St. Kliment Ohridski Publishing, 520- 531.
  • Friedman, D. (2000), Law’s Order: An Economic Account, Priceton University Press, New York.
  • Gelter, M. & K.. Grechenig (2014), “History of Law and Economics”, Preprints of the Max Planck Institute for Research on Collective Goods, Bonn 2014/5, 1-10.
  • Harnay, S. & A. Marciano (2009), “Posner, Economics and the Law: From Law and Economics to an Economic Analysis of Law”, Journal of the History of Economic Thought, 31(2), 215-232.
  • Hazlett, T. (1997), “Looking for Results: An Interview with Ronald Coase”, From the January 1997 Issue, https://reason.com/1997/01/01/looking-for-results/, 06.04.2019.
  • Hovenkamp, H. (1990), “The First Great Law and Economics Movement”, Stanford Law Review, 42(4), 993-1058.
  • Hovenkamp, H. (1995), “Law and Economics in the United States: A Brief Historical Survey”, Cambridge Journal of Economics, No. 19, 331-352.
  • Landes, W. M. (2003), “The Empirical Side of Law and Economics”, The University of Chicago Law Review, Vol.70, No.1, Centennial Tribute Essays, 167-180.
  • Lewkowicz, J. (2018), “What is Law and Economics and How Could It Have Contributed to Preventing the Global Crisis?”, Entrepreneurial Business and Economics Review, 6(3), 89-101.
  • Mackaay, E. (2000), History of Law and Economics, Encyclopedia of Law and Economics, Vol. 1, UK: Edward Elgar Publishing, Cheltenham.
  • Manne, H. G. (1993), “An Intellectual History of the George Mason University School of Law”, Law and Economics Center, https://www.law.gmu.edu/about/history, 06.04.2019.
  • Marciano, A. (2010), “Calabresi, “Law and Economics” and The Coase Theorem”, ICER Working Paper Series, Paper No. 26/2010.
  • Marciano, A. (2011), “Ronald Coase, “The Problem of Social Cost” and The Coase Theorem: An Anniversary Celebration”, European Journal of Law and Economics, 31(1), 1-9.
  • Marciano, A. (2017), “Ronald H. Coase (1910-2013)”, SSRN Paper, https://ssrn.com/abstract=3113241, 06.04.2019.
  • Medema, S. (2014), “Debating Law’s Irrelevance: Legal Scholarship and the Coase Theorem in the 1960s”, Texas A-M Law Review, Vol 2, Issue 2, 159-213.
  • Mercuro, M. & S. G. Medema (1997), Economics and the Law, Princeton University Press, Princeton. Polinsky, M. (1989), An Introduction to Law and Economics, Little Brown and Co . Law and Business, Boston.
  • Porrata-Doria, R. & M. Grondona (2016), “Guido Calabresi’s The Future of Law and Economics”, The Italian Law Journal, Vol.02, No.02, 523-534.
  • Posner, R. A. (1975), “The Economic Approach to the Law”, Texas Law Review, No.53, 757-782.
  • Posner, R. A. (1993), “Ronald Coase and Methodology”, Journal of Economic Perspectives, Vol. 7, No.4, 195-210.
  • Rowley, C. K. (1989), “Public Choice and Economic Analysis of Law”, N. Mercuro(Ed.), Law and Economics içinde, Kluwer Academic Publishers, Boston, 123-173.
  • Salama, B. (2013), “The Art of Law and Macroeconomics”, DIREITO GV Research Paper Series – Legal Studies, Paper No.73.
  • Salzberger, Eli M. (2007), “The Economic Analysis of Law – The Dominant Methodology for Legal Research?”, University of Haifa Faculty of Law Legal Studies Research Paper No. 1044382.
  • Schlafly, A. L. (2007), “The Coase Theorem: The Greatest Economic Insight of the 20th Century”, Journal of American Physicians and Surgeons, No: 12, 45-47.
  • Stigler, G; (1966), The Theory of Price, Macmillan Library Reference, New York.
  • Stigler, G. J. (1992), “Law or Economics?”, The Journal of Law and Economics, 35(2), 455-468.
There are 43 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Ahmet Emrah Tayyar 0000-0003-2823-1700

Publication Date August 24, 2020
Published in Issue Year 2020 Volume: 27 Issue: 2

Cite

APA Tayyar, A. E. (2020). Hukuk ve İktisat Yaklaşımında Bir İktisatçı: Ronald H. Coase. Journal of Management and Economics, 27(2), 199-217. https://doi.org/10.18657/yonveek.605913