The Coase Theorem says that, in an economic transaction with externalities, if property rights are well defined and if the transaction costs are low enough, then the private solution is socially optimal, with no need for government intervention to correct the situation externality, which is a market failure. The government's only role would be to ensure that property rights are well defined and that free trade flows without transaction costs.
Coase's theorem, shows how the role of institutions, especially legal ones, are important for the proper functioning of the market economy.
All of these facilities are entitled to a safe and sound environment where children can maximize their inborn potential through a very safe and secure, as well as enriching environment.
I believe it would belong to Kim because Jon stole it.
