More quotes from Ronald Coase

I’ve been wrong so often, I don’t find it extraordinary at all.”

If economists wished to study the horse, they wouldn’t go and look at horses.  They’d sit in their studies and say to themselves, ‘what would I do if I were a horse?’

The law of property determines who owns something, but the market determines how it will be used.”

The pollution problem is always seen as someone who was doing something bad that has to be stopped.  To me, pollution is doing something bad and good.  People don’t pollute because they like polluting.  They do it because it’s a cheaper way of producing something else.”