When asked what he considered his politics to be, Coase stated, "I really don't know. I don't reject any policy without considering what its results are. If someone says there's going to be regulation, I don't say that regulation will be bad. Let's see. What we discover is that most regulation does produce, or has produced in recent times, a worse result. But I wouldn't like to say that all regulation would have this effect because one can think of circumstances in which it doesn't."
I think this a fabulously humble point of view. I wish more people thought this way.
I think this a fabulously humble point of view. I wish more people thought this way.