This talk, recorded on May 1, 2012, as part of the Chicago's Best Ideas lecture series, puts in an explicitly Coasian context some of the speaker's prior work on the new reproductive technologies and on analogies in the evolution of the laws governing marriage and business corporations.
This discussion between Professor of Law M. Todd Henderson and Richard L. Sandor, (CEO, Environmental Financial Products, LLC, and Lecturer in Law at the University of Chicago Law School) was sponsored by the Law School and Chicago Booth School of Business and was recorded on April 17, 2012.
How has the Supreme Court confirmation process changed over the years? Are members of the Senate more prone to oppose nominees today than they were in the past? If so, to what extent is this due to the controversy over the Bork nomination?
In 1937, Ronald Coase asked a profound question: if markets are so efficient at allocating resources, why are so many resources allocated within firms? Coase’s answer was that market allocation entailed transactions costs and, when these were very high, transactions will take place within firms.
It is common to hear Europe described today as the power of the past. Europe is perceived to be weak militarily. Its relative economic power is declining as Asia’s is rising. Its common currency may be on the verge of disintegrating.