Embracing at Arm’s Length: Ronald Coase’s Uneasy Relationship with the Chicago School

Center for the History of Political Economy at Duke University Working Paper Series, No. 2019-15

31 Pages Posted: 12 Aug 2019

See all articles by Steven G. Medema

Steven G. Medema

Duke University - Department of Economics

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Date Written: August 7, 2019

Abstract

This paper takes up Coase’s views on the Chicago school, as found in his published and, especially, unpublished writings, beginning already in the early 1960s, prior to his appointment at Chicago. These commentaries at once demonstrate a measure of kinship and significant differences of viewpoint, particularly as respects economic method. Pulling back the lens a bit further, the paper provides additional evidence for the heterogeneity of views on fundamental questions that existed even among ostensibly cornerstone members of the so-called “Chicago school.” In doing so, it highlights the ambiguity surrounding the idea of a “Chicago school” and adds credence to claims that there was no “true” Chicago or, what amounts to the same thing, that there were many Chicagos.

Suggested Citation

Medema, Steven G., Embracing at Arm’s Length: Ronald Coase’s Uneasy Relationship with the Chicago School (August 7, 2019). Center for the History of Political Economy at Duke University Working Paper Series, No. 2019-15. Available at SSRN: https://ssrn.com/abstract=3434038 or http://dx.doi.org/10.2139/ssrn.3434038

Steven G. Medema (Contact Author)

Duke University - Department of Economics ( email )

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