Ronald Coase Is Famous for the Coase Theorem, Which Is

question 122

Essay

Ronald Coase is famous for the Coase Theorem, which is based on the premise that there is an economically efficient level of pollution reduction.Many economists believe that the tradable emissions allowance program that has been used to deal with the problem of acid rain has been successful in reducing emissions of sulfur dioxide in an economically efficient manner.Why isn't this program an example of the Coase Theorem?

---

Definitions:

Ngo Dinh Diem

A Vietnamese political leader who served as the President of South Vietnam from 1955 until his assassination in 1963, noted for his authoritarian rule and policies against communists.

Geneva Accords

Agreements reached in 1954 that temporarily separated Vietnam into northern and southern zones and aimed to resolve issues from the First Indochina War.

National Elections

Electoral processes occurring at a country-wide level in which citizens vote for their leaders, such as presidents, and national legislators.