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Economic Morality and Jewish Law$
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Aaron Levine

Print publication date: 2012

Print ISBN-13: 9780199826865

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199826865.001.0001

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The Coase Theorem as Treated in Jewish Law

The Coase Theorem as Treated in Jewish Law

Chapter:
(p.62) Chapter 3 The Coase Theorem as Treated in Jewish Law
Source:
Economic Morality and Jewish Law
Author(s):

Aaron Levine

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199826865.003.0003

This chapter describes the distinctions between the Jewish law's treatment and Ronald Coase's approach in dealing with negative externalities. It emphasizes the argument of economic value should be attributable to the outputs derived from alternative social arrangements, taking into account its effects on all facets of life. It also provides an analysis on the application of Coase's theorem and Jewish law's approach on the following cases: the straying cattle case and breeding small cattle in Israel. In addition, this chapter discusses the following sub-components of Coase's theorem: the reciprocity principle, the trading principle, and the independence principle.

Keywords:   Coase's theorem, Ronald Coase, negative externalities, alternative social arrangements, alternative outputs, straying cattle case, reciprocity principle, trading principle, independence principle

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