英文摘要 |
Reciprocity and boundary are the most important foundation to understanding Coase's contribution. Deviating from the two solid foundations will result in a misunderstanding or distortion of Coase's idea of transaction cost and his insights into the nature of the firm and property rights. This article succinctly reviews Coase's major contribution in a dialogue context of discussing mails between a father and a daughter. In addition, this article refutes harsh and distorting criticisms against Coase. In the aspect of pure theory, the most important points are the subjective nature of transaction cost and that there can be no wealth effect under the assumption of zero transaction cost. This article also demonstrates how to correctly apply Coase's insights to detect problems of some of Taiwan's recent economic policies. |