Ronald Coase’s signal achievement relates to the role of transactions costs in two contexts: the formation and maintenance of the firm and the systematic analysis of social costs. These transaction-cost explanations, however, do not offer a complete explanation of the variations observed in...

Front Cover -- Book Title -- Copyright -- Contents -- Introduction to the Hoover Classics Edition -- Foreword -- Brief Introduction to the American Edition: Back Home Again -- 1. Modern Justifications for Classical Liberalism -- 2. Between Socialism and Libertarianism -- 3. Competition and...