Ronald H. Coase

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Ronald H. Coase was a prominent economist known for his groundbreaking contributions to the field of economics, particularly in the areas of transaction costs and property rights. His influential works, such as "The Firm, the Market, and the Law," have reshaped how economists and policymakers think about the role of firms and markets in resource allocation. Coase's theories have provided valuable insights into the functioning of markets and the legal frameworks that govern them, emphasizing the importance of understanding the costs associated with transactions.