"The spontaneous individual optimization that drives the theories with which I began is important, but it is not enough by itself. If spontaneous Coase‐style bargains, whether through laissez-faire or political bargaining and government, eliminated socially wasteful predation and obtained the institutions that are needed for a thriving market economy, then there would not be so many grossly inefficient and poverty-stricken societies."
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Big Bills Left on the Sidewalk: Why Some Nations Are Rich, and Others Poor
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Mancur Olson
Mancur Lloyd Olson, Jr. (January 22, 1932 – February 19, 1998) was an American economist and social scientist.
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