CONSUMPTION, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

The economy is not a stand-alone system, but is embedded in, and dependent on, the contexts of the natural world and the built environment, as well as human social systems – the latter including ...

The externalities created by the pursuit of corporate self-interest and profit above all else can no longer be hidden or sent far away from the public eye. Phil Gramm and Michael Solon’s “Enemies of ...

The COVID-19 pandemic has highlighted the high costs that unchecked externalities – such as those resulting from people not wearing face masks – can impose on an economy and society. Economists must ...

The researchers sought to find the range and scope of externalities, e.g. the unexpected costs or benefits resulting from economic activity that affects people other than those engaged in that ...

An 80-minute IB DP Economics higher level lesson on Calculating Welfare Loss from Externalities (Unit 2, 2.8 HL), with a student resource and a full teacher guide, built on concept-based (CBCI) ...