Ronald Coase, a British-born University of Chicago economist whose Nobel Prize-winning work on the role of corporations stemmed from visits in the early 1930s to American companies including Ford Motor Co. and Union Carbide Corp., has died. He was 102.
Coase, who had been the oldest living Nobel laureate, died Monday at St. Joseph Hospital in Chicago, the university announced. No cause was given.
The Royal Swedish Academy of Science awarded Coase the 1991 Nobel in economics "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy."
Coase built his career...