Ronald Coase passed away on Monday. I first became interested in attending the University of London after hearing him in a podcast with him. Coase was a Nobel Prize winner in Economics. He was also a University of London International Programmes Old Boy, or as we yanks would say, an alumni. He took the London Intermediate exam as an External student in 1929, then went on to study on campus at LSE.
I am too busy with work to highlight all of his achievements, but I will say from what I know of his work, he was one of the most unique minds in the field.
Wikipedia has a quick rundown of some of his most influential work. The Lighthouse in Economics is a famous paper of his; it refutes the idea that lighthouses are public goods, and talks about them instead as club goods. His most recent work was on China.
He lived a full life, and apparently kept working late in life, he was 102 when he passed away. He was a giant in Economics, it will be a hard climb to stand on his shoulders.
Jay is studying the Diploma for Graduates in Economics by distance learning with the University of London International Programmes. He lives in Florida, USA.
Read more about Mr Coase’s recent work on China in London Connection.