The question of what is the 'Coase Theorem?' has no simple answer. The majority of articles covering a variety of issues on the 'Coase Theorem' still misrepresent the main message of Coase (1960). The remaining controversy over the 'Coase Theorem' is because the literature on Coase (1960) has...

The professional life of economists takes place within the boundaries of the institution of academic economics. Belonging to the institution enable economists in many ways. It provides a context wherein their contribution is meaningful. But it constrains, too, what economists are allowed to do...

How do ideas evolve? Can one speak of scientific progress when there is more than one pathway of intellectual evolution in which different ideas emerge and flow in different directions? Is the history of economic analysis a compilation of a number of intellectual pathways? This essay argues that...