Douglas MacKenzie

encyclopedia

Competition

by Douglas MacKenzie on Aug 15, 2008

Competition between multiple firms fuels innovation, trade, and efficiency. For this reason, competition is an important part of a free market economy.

encyclopedia

Coase, Ronald H. (1910-2013)

by Douglas MacKenzie on Aug 15, 2008

The work of Ronald H. Coase, most famously the concept known as Coase’s theorem, has provided insight to law, economics, and how they intersect.