Accountability and Greed in Investment Banking- Capitalism, Success, Crisis and Reform - Capitalism, Success, Crisis and Reform - Douglas W Rae - Lecture 11 of 23 - Video-lecture

Video-lecture, Economic Sociology

Description: Professor Rae explores the creation of incentives and disincentives for individual action. The discussion begins with the Coase Theorem, which outlines three conditions for efficient transactions: 1) clear entitlements to property, 2) transparency, and 3) low transaction costs. Professor Rae then tells the story of a whaling law case from 1881 to highlight the power of incentives and property rights.
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