Relevant and even prescient commentary on news, politics and the economy.

You searched for: label/Externalities

Ignorance, Fake Turing Tests, and Bads

…that we consume a lot of things that are harmful to the economy’s long run health? Not because they generate externalities, but because they are really “bads” rather than “goods”?…

A Tense Problem

…eat a bit more is nice, but the externalities—poisoned toothpaste, dog food,* defective tires—make it rather impossible to claim that the “advantages of free trade” have trickled down in any…

Capital, Labor, and Modernization

…to exploit a difference in net pricing between capital and labor and leave the consequences and externalities to the future, then the Royal Mail becomes just a contemporary example of…