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A Review of Literature on Political Coase Theorem
YANG Rui-long, ZHONG Zheng-sheng
Teaching and Research
2007, (1):
44-50.
Political Coase Theorem is the extension of Coase Theorem into politics.However,the hypothesis that politics resembles the market has been nullified by the special prescriptions of the political market.Likewise,the Political Coase Theorem is also rejected because generation of this theorem has been based on that hypothesis.The paper then discusses why the Political Coase Theorem does not work and analyzes the aspects that account for its failure to function.These aspects include volunteer participation,lack of ability to make political commitment,the opposition of political losers,the conflicts in redistribution,and historical accidentality.
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