This article summarizes and explains the scope of the zoork developed by Ronald Coase whereby he won the Nobel Prize in Economy. The author not only analyzes Coase's contribution to the Economic Theory but mainly his contribution to understand the design of legal institutions and systems. This part includes a general analysis of the two key articles of Coase's Theory: 'The Nature of the Firm' and 'The Problem of the Social Costs'. These articles outline the 'transaction cost' concept, which helps us to understand both the Economy as well as the Law institutional designs.
- Economía institucional
- Teoría económica