The remarkable Mr Coase

At the ripe old age of 101, alumnus Ronald Coase continues to add to the wealth of human knowledge
Ronald Coase
Alumnus, author and centenarian: Professor Ronald Coase

Our global community of former students and alumni include many exceptional people who have made their mark on the world, including seven Nobel Prize Winners. One of these Nobel laureates is the noted economist and academic, Ronald Coase.

Remarkably, Coase – who turned 101 in December 2011 – has just had a new book published by Palgrave Macmillan and the Institute of Economic Affairs. Coauthored with Ning Wang, Coase’s former research assistant at the University of Chicago and now an Assistant Professor at Arizona State University, How China Became Capitalist details the origins and development of China's extraordinary market transformation over the past 30 years.

Professor Coase took the London Intermediate exam as an External student in 1929, before taking a degree at LSE. A year spent in the USA studying the structure of American industries provided the basis for ‘The Nature of the Firm’ (1937). Another article, ‘The Problem of Social Cost’ (1961), continues to be among the most widely cited in economic literature. Both articles were referenced by the Royal Swedish Academy of Sciences as justification for awarding Coase the Nobel Prize for Economics in 1991.

Meanwhile, Michael Bobelian has posted an interesting appraisal of Coase on the Forbes website which is well worth a read.

Find How China Became Capitalist on Amazon: