In this book, he applies economic theory to four areas of interest to students of social and legal institutions: the theory of justice, primitive and ancient ...

This text looks at the potential benefits of concept and theory formation along dynamic, evolutionary and valuation for understanding economic processes.

Ronald Coase has been a vigorous critic of mainstream economic theory, arguing that it is unrealistic and that a good theory is realistic. The attributes "realistic" and "unrealistic" appear in three senses at least in Coase: one related to narrow ness and breadth; another related to abstracting from particularities (and the issue of "blackboard economics"); and the third related to correspondence with the legal. This does not yet make Coase an advocate of realism. It is therefore separately argued that each (...) of the three kinds of "realisticness" as a property of theories is consistent with realism as a theory of theories. (shrink)