Coase on entrepreneurship
- 734 Downloads
Following a short biography of Nobel Laureate economist Ronald H. Coase, this two part interview explores (1) Coase’s life history and thoughts on academic scholarship and (2) Coase’s perspective on the field of entrepreneurship. Coase describes his experiences during his visiting scholarship to America in 1932, early career at the London School of Economics, and government work during World War II. He discusses the virtues of scholarship and the role of technology. In the second part of the interview, Coase views entrepreneurship as a vital source of endogenous change in the economy and outlines the importance of investigating the structure of production, and other important research and policy questions. Coase elaborates on how entrepreneurship has changed over time, and describes his most recent work on entrepreneurship in China. The interview concludes with Coase’s thoughts on the evolution of scholarship and his efforts to advance the field.
KeywordsCoase Economics Entrepreneurship Interview Scholarship
JEL ClassificationsA11 B25 B31 L26 N01
The authors thank Professor Ronald Coase for granting this interview to commemorate his 102nd birthday. Coase also generously provided us with the permission to reprint excerpts from his autobiography (Coase 1991a) and speech (Coase 1991b). As Swedish law allows individuals to quote works without formal permission as long as the author and copyright are clearly stated, excerpts from the Nobel Foundation are marked as copyright (©The Nobel Foundation).
- Coase, R. H. (1974). The market for goods and the market for ideas. American Economic Review, 64(2), 384–391.Google Scholar
- Coase, R. H. 1991a. An autobiography. Nobelprize.org. ©The Nobel Foundation.Google Scholar
- Coase, R. H. (1991b). Speech at the Nobel Banquet. Nobelprize.org. ©The Nobel Foundation.Google Scholar
- Coase, R. H. (1994). Essays on economics and economists. Chicago: University of Chicago Press.Google Scholar
- Coase, R. H. (1999). International Society of New Institutional Economics. Interview.Google Scholar
- Coase, R. H. (2002). Why economics will change. Address to U Missouri: Columbia.Google Scholar
- Coase, R. H. (2004). In W. Breit & B.T. Hirsch (Eds.) Lives of the Laureates: Eighteen Nobel economists (4th edn), (pp. 189–207). MIT Press: Cambridge.Google Scholar
- Coase, R. H., & Wang, N. (2012a). How China made its great leap forward. Wall Street Journal. Available at: http://online.wsj.com/article/SB10001424052702303302504577326132059836456.html?mod=googlenews_wsj. Accessed 06 December 2012.
- Coase, R. H., & Wang, N. (2012b). Saving economics from economists. Harvard Business Review, 36.Google Scholar
- Coase, R. H., & Wang, N. (2012c). How China became capitalist. New York: Palgrave Macmillan.Google Scholar
- Hazlett, T. W. (1997). Looking for results: Nobel laureate Ronald Coase on rights, resources, and regulation. Available at: http://reason.com/archives/1997/01/01/looking-for-results. Accessed 06 December 2012.
- Medema, S. (1994). Ronald H. Coase. St. Martin’s Press: New York.Google Scholar
- Nye, J. (1997). Interview. Inaugural Conference, International Society for New Institutional Economics. Available at: http://www.coase.org/coaseinterview.htm. Accessed 06 December 2012.
- Sandor, R. (2012). Good derivatives: A story of financial and environmental innovation. Hoboken: Wiley.Google Scholar
- Terjesen, S., Hessels, J., & Li, D. (2011). Comparative International Entrepreneurship Research: A Review and Research Agenda. Working paper presented at Academy of Management.Google Scholar
- The Royal Swedish Academy of Sciences. (1991). The prize in economics 1991—Press Release. Nobelprize.org. http://www.nobelprize.org/. Accessed 06 December 2012.
- Wang, N. (2010b). Interview. Coase China Society. http://english.unirule.org.cn/Html/Unirule-News/20110101130956819.html. Accessed 06 December 2012.
- Werin, L. (1991). Presentation speech for the Sveriges Riksbank Prize in economic sciences in memory of Alfred Nobel. ©The Nobel Foundation.Google Scholar
- Williamson, O. E. (1985). The economic institutions of capitalism. New York: Free Press.Google Scholar