Inspired by Adam Smith, Alfred Marshall, and Frank Knight, Coase conducted economics throughout his long life as a moral philosopher. For him, economics is not a science of choice that “studies human behavior as a relationship between ends and scarce means which have alternative uses,” but a study of men seeking peace, justice, and prosperity in society through the social division and contractual organization of production. Unless economics is pursued as part of what Smith called the “science of a legislator,” it risks losing relevance to our striving to understand how the economy works and what can be done to make it work better. For current and future students of the economy, this volume will be cherished as a source of inspiration, ideas, and courage.