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  1. #131
    Senior Member Survive & Stay Free's Avatar
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    Well a number of books have been written on the benefits of externalities and spill over effects, for instance Freakonomics and More Sex is Safer Sex: The Unconventional Wisdom of Economics.

    Public choice theorists even exist to suggest that where sub-optimal allocations are evident in a market, for instance the market for health services, social services or social insurance (including unemployment protection or benefits), the public can opt for these sub-optimal private market providers because on balance they have made a choice between this imperfect reality and the alternative imperfect reality of state provision which can be abused by free loader and free rider problems.

    I studied those when I got my degree in social admin and policy, while objectively the benefits of a generous welfare benefits system could out weigh the existence of a population of individuals who will be chronic abusers and fraudsters of the same services the public at large could be culturally so vexed by either the abuse or the possibility of it that they trade of the benefit. Its the major difference between the UK and Scandinavia for instance.

  2. #132
    morose bourgeoisie
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    Quote Originally Posted by JocktheMotie View Post
    What's the view like from down there?
    Good. Less hot air.

  3. #133
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    Quote Originally Posted by nebbykoo View Post
    Good. Less hot air.
    But apparently more bullshit.

  4. #134
    morose bourgeoisie
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    Quote Originally Posted by Zarathustra View Post
    But apparently more bullshit.
    You're the expert.

  5. #135
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    Quote Originally Posted by nebbykoo View Post
    You're the expert.
    Of annihilating your inane bullshit: yes, that's true.

  6. #136
    morose bourgeoisie
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    Quote Originally Posted by Zarathustra View Post
    The expert of annihilating your inane bullshit: yes, that's true.
    And incapable of recognizing your own, which is surprising considering how often you grace us with it.

  7. #137
    Order Now! pure_mercury's Avatar
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    Quote Originally Posted by Marmie Dearest View Post
    As for externalities:



    An example of external costs created by not weighing social costs/benefits are the extra costs caused by environmental pollution.

    Essentially it means you aren't looking at the big picture.
    I think "market failure" is being used VERY loosely here. This assumes that A) we can properly gauge the cost of something as amorphous as environmental pollution and factor it into marginal cost; and B) that, if and when that occurs, that a traditional cost-benefit analysis (or even Environmental Impact Report) would fail to factor in the "true" cost. I think we will be able to do better at all of these as technology advances, and I am particularly interested in this subject, given my business school specialization in Social, Environmental, and Ethical Responsibility (triple bottom lines are all the rage now). Still, to call this "market failure" is inappropriate. If and when we can gauge these things properly, I would not be against a straight carbon emissions tax that was revenue-neutral to a corporate income tax cut. That would improve the suboptimal situation we find in polluting industries.
    Who wants to try a bottle of merc's "Extroversion Olive Oil?"

  8. #138
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    Quote Originally Posted by nebbykoo View Post
    And incapable of recognizing your own, which is surprising considering how often you grace us with it.
    :yim_rolling_on_the_

    Remind me: who's the one who clearly didn't recognize what Jock was saying earlier? But replied like a anyway?

    Quote Originally Posted by Zarathustra View Post
    I remember one day in college, an extremely bright kid in my econ 103 (macro) class interrupting the professor (a totally Keynesian) in the middle of the class and saying, "Why don't you ever teach Austrian economics?"

    If I recall correctly, the professor had no reply.

    He was sorta just dumfounded.

    It was very odd.
    Quote Originally Posted by pure_mercury View Post
    You can't teach what you haven't learned yourself.
    Quote Originally Posted by Magic Poriferan View Post
    The same reason the anthro professors aren't teaching creationism.

    That would have been my response.
    Quote Originally Posted by onemoretime View Post
    They don't learn Austrian economics for the same reason evolutionary biologists don't learn the ins and outs of creationism.
    Quote Originally Posted by JocktheMotie View Post
    I hear an echo.
    Quote Originally Posted by nebbykoo View Post
    That's what happens when two INTJs occupy the same space at the same time.
    Quote Originally Posted by Zarathustra View Post
    Quote Originally Posted by nebbykoo View Post
    That's what happens when two INTJs occupy the same space at the same time.
    Talk about not getting it...
    Quote Originally Posted by JocktheMotie View Post
    Quote Originally Posted by nebbykoo View Post
    That's what happens when two INTJs occupy the same space at the same time.
    What's the view like from down there?

  9. #139
    morose bourgeoisie
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    Quote Originally Posted by Zarathustra View Post
    :yim_rolling_on_the_

    Remind me: who's the one who clearly didn't recognize what Jock was saying earlier? But replied like a anyway?
    You seem constitutionally incapable of seeing more than one context at a time...
    I'm done with this thread, but feel free to keep insulting me via rep points. It goes a long toward proving your superiority.

  10. #140
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    Quote Originally Posted by nebbykoo View Post
    You seem constitutionally incapable of seeing more than one context at a time...
    Considering this is coming from a guy who replies with snide remarks, not even recognizing that the statement he's quoting just went completely over his head: I assure you, your opinion does not matter.

    Quote Originally Posted by nebbykoo View Post
    I'm done with this thread...
    First good move you've made.



    You sure don't wanna dig that hole any deeper...

    Considering, you know, you have a reputation for these kinds of things.

    Quote Originally Posted by nebbykoo View Post
    ...but feel free to keep insulting me via rep points. It goes a long toward proving your superiority.
    You mean the one rep in which, after Jock made it clear that his comment went straight over your head, and you tried to make a snarky reply back to him as if you were superior to him, so I repped you:

    AND you can't even recognize when you're wrong. Pathetic.
    Yeah, that wasn't to prove my superiority over you.

    I already know that to be the case.

    That was to rub your own in your face one more time.

    Maybe next time you'll make sure to know what you're talking about before you open your mouth and say something stupid.

    It was also to demonstrate the utter lack of integrity in such a response, as you were clearly in the wrong.

    Rather than just admit that you were mistaken, you have to try to come back with a snide remark.

    Such behavior is a blatant demonstration of an absolute absence of integrity.

    Of course, it's not like we haven't seen this behavior before.

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