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As tariffs, easily give in to the analysis means of the usual theory of the prices, and
Occurs at their reduction.
It is obvious that the markets as they exist today, for the activity
Demand it, than a premise in which there can be a purchase and sale.
They demand also statement of rules of law which would define the rights and
Duties of those who carries out transaction in these premises. Such legal
Norms can be created those who will organise the markets, as, actually, and
Occurs on the majority of stock exchanges. In this lawmaking of a stock exchange basically
Face problems of maintenance of the consent between members of a stock exchange and
Submission to rules. The consent is easier reached in case of commodity exchanges,
As members of a stock exchange work in the general premises and operate with the limited
Set of the goods (commodities); to force to observance of rules it appears
Simple business because possibility to trade at a stock exchange is the considerable
Value and prospect to lose access on a stock exchange - sufficient threat,
Forcing the majority of participants to observance of rules of a stock exchange. When premises
Both their owners the set and interests of everyone are various, as it takes place in
To retail and wholesale trade, an establishment and maintenance of private system
Rules of law appear very difficult business. Therefore activity on these
The markets should depend on legal system of the state. not contradicting analysis of the future markets: Telser Lester G. and
Higinbotham Harlow N., it 5,
of Political Economy 85, p. 969., Organized Futures Markets Costs, See similar to mine and and 1977
IV. The Problem of social costs
INFLUENCE of the right on job of economic system is investigated in the head "the Problem
Social costs ". The origin of this text helps to understand something in
Current state of the economic theory. Earlier article has been published under
The name "the federal commission of communication" Coase R. H., October 1959, p. 1 - 40, Economics and The Federal
Communications Commission//The Journal of Law in which I proved that would be better, if in the USA
Use of various segments of a radio spectrum was given to those who is ready
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