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Of Coase and Corn: A (Sort of) Defence of Private Nuisance
Author(s) -
Campbell David
Publication year - 2000
Publication title -
the modern law review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.37
H-Index - 22
eISSN - 1468-2230
pISSN - 0026-7961
DOI - 10.1111/1468-2230.00259
Subject(s) - coase theorem , nuisance , argument (complex analysis) , economics , law and economics , work (physics) , property rights , property (philosophy) , externality , public economics , law , political science , microeconomics , engineering , transaction cost , mechanical engineering , biochemistry , chemistry , philosophy , epistemology
Drawing on the work of Coase, the essay argues for a reform of the law of nuisance based upon property rights rather than determinations of social welfare by the courts, and for the use of a reformed law of nuisance as the least flawed method of regulating the environment in many situations compared to other techniques of regulation. The argument is developed and illustrated by reference to several contemporary issues, including genetically modified crops.