Externalities are one way in which markets and private enterprise can fail to reach socially desirable outcomes. An externality exists whenever there's a third party or parties that are affected by a transaction, yet they have no direct say in the transaction. Typically we assume that any market transaction involves two parties, a buyer and … Continue reading Nuclear Power and Externalities
Nader: Seven Steps the Obama Admin is NOT Taking to Fix the Banking Crash, Why Not?
Ralph Nader has made IMHO an excellent contribution to the discussion of what can be done to prevent future crises on Wall St such as the current one. Here are seven avoidance indicators which outline what Washington is not doing to prevent another round of greed and misdeeds by the Wall Street few against the … Continue reading Nader: Seven Steps the Obama Admin is NOT Taking to Fix the Banking Crash, Why Not?