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'''Ronald Coase''' (b. 1910) is an English-born economist who immigrated to the United States and developed at the University of Chicago the [[Coase theorem]].  He generally opposed government regulation and he became vilified by liberal academics for his work.{{fact}}

'''Ronald Coase''' (b. 1910) is an English-born economist who immigrated to the United States and developed at the University of Chicago the [[Coase theorem]].  When Coase was a socialist, he changed his views when he learned about free market ideas such as the "[[invisible hand]]". <ref>"Coase, then a socialist, grasped as seminal the idea of spontaneous coordination in the marketplace, and his career as a creative and provocative economic thinker was born." [http://www.reason.com/news/show/30115.html ''Reason''] </ref>

 

He generally opposed government regulation and he became vilified by liberal academics for his work.{{fact}}

Coase received some vindication by the scientific establishment when he was the sole recipient of the Nobel Prize in 1991 for his theorem.  In addition to his theorem, Coase also criticized licensing of the radio spectrum, and wrote a paper "The Federal Communications Commission" (1959) proposing that property rights is a more efficient method of allocating the electromagnetic spectrum.

Coase received some vindication by the scientific establishment when he was the sole recipient of the Nobel Prize in 1991 for his theorem.  In addition to his theorem, Coase also criticized licensing of the radio spectrum, and wrote a paper "The Federal Communications Commission" (1959) proposing that property rights is a more efficient method of allocating the electromagnetic spectrum.