HES: Re: DISC--Coase

[Fred Carstensen]

In response to Doug Mackenzie's post on Coase, I ask:
why is it that economists insist on framing the issue as markets vs 
government (institutions)?  Markets exist only in the presence of 
civil authority (i.e. with institutions).  Thus it is never ever a 
choice between markets and government; it is always a question of 
what how government (institutions) will frame the arenas of 
discretionary behavior (markets).

Fred Carstensen