Posts Tagged ‘externalities’

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    Defrosting the Doughnut Hole

    Oct 19, 11 • 170 Views • Businesses, Demand, Supply, and Markets, Developing Economies, Environment, International Trade and Finance, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    A global phenomenon will open up new areas for oil exploration, enable ships to take shortcuts, and provide easier access to world markets for iron ore and other minerals. The phenomenon? Global warming. Because of global warming, the polar ice sheet is

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    Environmental Externalities

    May 9, 10 • 257 Views • Developing Economies, Economic Debates, EnvironmentNo Comments

    There is oil under Murchison Falls National Park. Home to rare birds, lions, elephants, and giraffes, this Ugandan nature park is a tourist mecca. The Ugandan government, though, prefers oil to tourists as a revenue stream.  Thinking as economists, we

  • When a Buffet Problem Becomes a Tragedy

    Dec 6, 09 • 196 Views • Thinking EconomicallyNo Comments

    I just heard a perfect example of “the tragedy of the commons.” (defined yesterday) In a recent “Curb Your Enthusiasm”, during a dinner party, Larry David observed a friend depleting the caviar on a buffet table. Predictably, he