Ronald Coase Quotes
We must first note that economic factors are taken into account in a world in which ignorance, prejudice, and mental confusion, encouraged rather than dispelled by the political organization, exert a strong influence on policy making.
Coase, Ronald H. "The Market for Goods and the Market for Ideas." The American Economic Review, vol. 64, no. 2, 1974, p. 384.
The mayor was confronted with a poll showing that over 70 percent of the public opposed taxpayer support for a sports stadium which would provide subsidies to profitable professional sports teams. Nonetheless he continued to support the idea believing that the issues were too complex for the public to understand.
In America and Canada, corporations, at their discretion, may leave a state/province or the country, and take their money, machines, and key people with them. The state and country lose the benefit of the employment the corporation enabled, the talent and productivity of the people who leave, and the business done by other companies in supporting the corporation. As a result corporations can not only lobby for whatever legislative outcome they want, and can give unlimited campaign contributions, but they can simply threaten to move to another state of offshore if they do not get their way. In many other nations, the corporations cannot move without permission and their assets can be frozen. Currency controls could prevent them from taking their money and running. The Freedom of the United States and Canada is well worth the risk of corporations dictating policy to government, but that is a very undesirable and undemocratic problem that must be faced in other ways
He foresaw the stock market problems of the Great Depression and was pushing the Federal Reserve Bank to act as the Hoover Administration was philosophically opposed to any government involvement. Strong died before the Fed could do anything and the last chance to stave off the Depression died with him.
He and his Prime Minister, John Majors, had become so unpopular, that they were forced to resign by their own Conservative Party and never had to be voted out of office.
The administration at the time was notorious for ignoring science in making policy decisions – especially of the results were in disagreement with Christian religious fundamentalist positions.
The Central Intelligence Agency had a hand in the assassination having smuggled in the weapons. However, the government takeover plan did not go as expected and there was no clear alternative plan to go to.
Currency Pegs are policies and commitments that countries make to sate that their currency henceforth will have a fixed relationship to another currency—usually the American Dollar, the English Pound or the Euro. If a second and even more countries also agree to peg their currency to the same, then the counties who are pegging can trust each other’s currency providing economic stability and facilitating trade.
Ronald Harry Coase was a British economist and author. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991.
