Coase’s Theorem: A Pathway to a Controlled Economy

📄 Coase’s Theorem: A Pathway to a Controlled Economy

Author: Gocha Okreshidze

Format: PDF | Language: English | Length: 52 pages | Completed: July 17, 2025

Description

This rigorous and original paper provides a comprehensive reinterpretation of one of the most cited yet misunderstood concepts in the field of law and economics: Coase’s Theorem. Written for scholars and advanced readers, Coase's Theorem challenges conventional readings of Ronald Coase’s work by uncovering what the author argues is the true intent behind The Problem of Social Cost and Coase's broader intellectual project.

Gocha Okreshidze conducts an in-depth investigative legal analysis, drawing on a wide range of primary texts and supporting literature to expose the often-overlooked implications of Coase’s arguments. Central to this paper is the claim that Coase ultimately advocated for a centralized system of economic planning — a radical interpretation that positions Coase as a theorist of state ownership and government-managed production. This reading sheds new light on Coase's views regarding property, market efficiency, and the role of institutions.

The paper meticulously examines Coase’s body of work alongside contributions from prominent scholars such as Guido Calabresi, Richard Posner, Arthur Pigou, Abba Lerner, and Adam Smith. One of the key visual elements includes a chart illustrating how Coase’s logic effectively empowers the state to orchestrate resource allocation, revealing deeper political-economic implications.

Key Features

• Original legal investigation into the philosophical and institutional underpinnings of Coase’s work

• First-of-its-kind comprehensive analysis of Coase’s move to the U.S. and his strategic development of The Problem of Social Cost

• Advanced-level content designed for legal scholars, economists, and political theorists

• Offers a new interpretative lens for understanding capitalism, corporate structure, and the state’s economic role

• Situates Coase’s theorem within the broader socialist-capitalist debate

Who Should Read This Paper

This paper is intended for advanced readers and scholars in the fields of law and economics, political theory, and institutional analysis. It will be particularly valuable to those researching the intellectual history of market theory, or those seeking a deeper understanding of how foundational economic theories influence contemporary policy and corporate governance.

Format & Delivery

• Digital download (PDF format)

• Distributed via email upon purchase