“If economists wished to study the horse, they wouldn't go and look at horses. They'd sit in their studies and say to themselves, "what would I do if I were a horse?"”

— Ronald H. Coase

Ronald Coase in speech to the "International Society of New Institutional Economics" the 17 September 1999, Washington DC. He claims he was quoting fellow economist Ely Devons which reportedly said this in a meeting
1990s and later

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Ronald H. Coase 19

British economist and author 1910–2013

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