The Coase Theorem and the Preferential Option for the Poor

Journal of Catholic Social Thought, Vol. 5, p. 65, 2008

12 Pages Posted: 9 Jul 2008

See all articles by Robert T. Miller

Robert T. Miller

University of Iowa College of Law; New York University - School of Law, Classical Liberal Institute

Date Written: December 30, 2007

Abstract

This paper considers the relationship between the Coase Theorem as a normative tool of policy analysis and the Preferential Option for the Poor in Catholic Social Thought (CST). After explaining the conceptual foundations of the theorem for the benefit of those who work in CST but have little experience with economics, I argue that, although using the theorem normatively to design efficient legal rules does indeed have distributional consequences, nevertheless in a wide variety of cases these consequences are not incompatible with CST's Preferential Option for the Poor.

Keywords: Coase Theorem, Kaldor-Hicks Efficiency, Preferential Option for the Poor

JEL Classification: A12, A13, D31, D60, D61, D63, K00

Suggested Citation

Miller, Robert T., The Coase Theorem and the Preferential Option for the Poor (December 30, 2007). Journal of Catholic Social Thought, Vol. 5, p. 65, 2008, Available at SSRN: https://ssrn.com/abstract=1157160

Robert T. Miller (Contact Author)

University of Iowa College of Law ( email )

Melrose and Byington
Iowa City, IA 52242
United States
(319) 335-9034 (Phone)

HOME PAGE: http://lawredhat.law.uiowa.edu/faculty/robert-miller

New York University - School of Law, Classical Liberal Institute ( email )

40 Washington Square South
New York, NY 10012-1099
United States
(212) 998-6425 (Phone)

HOME PAGE: http://www.classicalliberalinstitute.org/

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