Map of Saint Lawrence on In the United States he visited major manufacturing plants, such as GENERAL MOTORS, to understand how American business was structured and industries organized. Coase came away with a new concept of economic analysis, transaction costs, and an explanation as to why firms exist. The lessons learned in America provided him with a focus, a beginning of a new concept for an economic structure, the nature of which he would continue to work on and finally publish in 1937 under the title, The Nature of the Firm. In the meantime, he taught at the Dundee School of Economics (193234), at the University of Liverpool (193435), then at the London School of Economics, with which he would be associated through 1951. Coase’s career was interrupted in 1939 when the UNITED KINGDOM entered WORLD WAR II. He served as a statistician for both the Forestry Commission and the British War Cabinet. Accepting a position as professor at the University of Buffalo, New York, Coase immigrated to America in 1951. Map of Saint Lawrence 2016.
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