Lueck, Dean (contributor); Miceli, Thomas J. (contributor) - 2004 - [Elektronische Ressource]
law begins with Coase (1960), who provides a property rights
perspective on the problem of externalities.
3
Prior to … Coase, economists viewed externalities as a
source of market failure requiring government intervention to force the …’s critique of this conventional, or “Pigovian,” perspective on externalities is not that it is
wrong, but that it is incomplete …