Peter J Boettke said:
 >
 > Coase's work is, in my opinion, perhaps among the 2 or 3 most important
 > ideas of 20th century economics.  He demonstrated the logical inconsistency
 > of Pigovianism, and he developed the analytical framework for comparative
 > institutional analysis.
 >


Presumably you mean by "Pigovianism" what Demsetz called the nirvana
fallacy. As Steve Medema and I show in a paper on the HES SSRN
website, Pigou did not subscribe to this either. Nor Marshall, nor
Sidgwick.

Roger Backhouse