August 2014

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"He is launching a new journal, Man and the Economy, with Ning Wang of Arizona State University, who contributed to this column."

This is also good news. Even if it is competition for the Review of Austrian Economics.

I zero in on his assessment that economists now work in the service of the state. That is all too true.

Coase offers a radical political economic indictment of the profession. As economists, we must ask how do we change the incentives?

Coase must know this better than most at this point. What I love about this problem is it is rooted in economics itself. As to say we can explain the "Economic" shift toward the state with economics and incentives. I shouldn't say fun, but ironic I suppose.

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