This panel was recorded on December 4, 2009 as part of the conference "Markets, Firms and Property Rights: A Celebration of the Research of Ronald Coase." The conference brought together a group of scholars to honor the life and research of Ronald Coase. 2009 marked the 50th anniversary of the publication of Coase’s seminal paper on the Federal Communications Commission.
The Law School has traditions aimed at welcoming new students, celebrating the middle of the school year, and raising money for student summer internships. Next week students will partake in an annual tradition that was established to honor one of the Law School’s most celebrated faculty members.
For philosophers the great existential question is: “Why is there something rather than nothing?” For management theorists the more mundane equivalent is: “Why do firms exist? Why isn’t everything done by the market?”