Tulane Law School
His second major article, The Problem of Social Cost , argued that if we lived in a world without transaction costs, individuals would bargain with one another to create the identical allocation of resources, whatever the means a court might rule in property disputes. Coase used the instance of a nuisance case named Sturges v Bridgman, the place a loud sweetmaker and a quiet doctor were neighbours and went to court to see who should have to maneuver. So the law should pre-empt what would happen, and be guided by the most environment friendly solution. The idea is that law and regulation are not as important or effective at serving to people as lawyers and government planners imagine.
- During the Muslim conquests within the Indian subcontinent, sharia was established by the Muslim sultanates and empires, most notably Mughal Empire’s Fatawa-e-Alamgiri, compiled by emperor Aurangzeb and various scholars of Islam.
- Law