The Problem of Social Cost: What Problem? – My annotated study of Demsetz’s 2011 piece

My annotations in blue. MY SUMMARY The Problem of Social Cost: What Problem? A Critique of the Reasoning of A.C. Pigou and R.H. Coase HAROLD DEMSETZ University of California, Los Angeles This essay discusses and refutes allegations by A.C. Pigou and R.H. Coase that a competitive, private-ownership economic system that conforms to the neoclassical model fails […]