Tag «political science»

5. Environment and Climate Change

5. Environment and Climate Change

[MUSIC] Stanford University.>>Good evening and welcome to tonight’s session of State of the Union. Our announced subject for this evening is the environment, but as you will shortly learn, the composition of this panel. As well as just a moment’s reflections reminds us that there is a very tight connection between issues concerning the environment …

Negative Externalities and the Coase Theorem – Learn Liberty

Negative Externalities and the Coase Theorem – Learn Liberty

Voluntary exchange will only take place if both parties perceive that they’re better off. Sometimes these exchanges result in spillovers. We call these spillovers externalities. If a spillover is beneficial, we call these positive externalities. If they’re costly, we call them negative externalities. Let’s talk about negative externalities for a minute. Imagine being a corn …