Ron Coase, 1910 – 2013
Ron Coase, who would have been 103 years old this December, died yesterday on September 2, 2013. Professor Coase, who received the Nobel Memorial Prize in Economics in 1991, has had an enormous influence on my career and the lives of tens of millions of entrepreneurs.
Among Coase’s great contributions to the field of economics was his 1937 article “The Nature of the Firm. ” This article then explained why large organizations exist, and later, in our century, has come to explain why many large organizations should no longer exist. Much of the unemployment we experience today is actually the permanent dismantling of large organizations in favor of smaller entrepreneurial units.
Paul Zane Pilzer
September 3, 2013