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Coase Theorem

2026

A modern artistic depiction showing the balance between externality and coercion. A structure of precise transparent tracks and protective containment shields safely captures gray bubbles representing negative externality and converts them into glowing golden energy flows, demonstrating public order and harmony achieved through systemic coercion, in warm, premium tones.

Externality: Why Free Societies Also Need Coercion

10 June 2026·2652 words·13 mins

© 2026 Caihao Cui

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