PARSED CONTENT

The site had the following in the homepage, "读书笔记 McCloskey 1998 Other things equal the so-called Coase Theorem." I noticed that the web site stated " George Stiglers version of the Coase Theorem, in the 1960s." They also stated " It doesnt matter where you place the liability for, say, smoke pollution, because in a world of zero transaction costs, the right to pollute will end up in the hands that value it the most. Coases actual point was to note what happens in the many important cases in which transactions costs cannot be neglected. If the situation does have high transaction."