Steven Medema - The Coase Theorem As Fiction

The transcript discusses the Coast Theorem, a theoretical concept in economics with no real-world applicability, focusing on its legal and economic implications. Ronald Coast, who won a Nobel Prize, used the theorem to illustrate that in a frictionless world, law and institutions don't matter. The law and economics movement, influenced by this theorem, has significantly impacted legal and economic fields. The speaker, a historian of economics, shares insights on research, teaching, and professional development, emphasizing the importance of broad reading and scholarship.

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