Hey! How you doing Econ's students, this is Mr. Clifford welcome to AC/DC Econ
Right now we'll talking about the Externalities and the role of government
Like you, I'm worried about whole idea of global warning, and so I wanna sign a petition thats going to end this gonna end pollution.
That's right we gonna get pollution down to zero, no pollution at all
and turns out that extremly stupid, there is no way to have zero pollution
I mean think about it, our body is pollute everything we do is pollute
and so the question is not is should have pollution or no pollution
The real question is how much pollution
and pollution is a good example for externalities
An externality is when theres external cost or benefits to someone other than that person who's involved in that transaction
