In this paper, we show that, in 1961 and before he had read "The Problem of Social Cost", Calabresi reached exactly the same conclusions as the one reached by Coase and summarized by Stigler as the "Coase theorem" but he believed that this result was valid only in the theoretical world of the...

The paper provides a critique of a new attack against the Coase theorem opened by A. Oleynik. Under close examination his attempts to repudiate the Coase theorem turn out to be theoretically invalid. Special discussion is devoted to the normative ideas of R. H. Coase.