Learn how externalities impact economics, with examples of positive and negative outcomes, and explore solutions like taxes, subsidies, and regulations.

To what extent does the digital world create a culture in which responsibility is denied or avoided, and what are the consequences of this failure to take ownership of a problem? Taking responsibility ...

Many economic models are constructed on the basis of an equity-efficiency trade-off, assuming that equality comes at the cost of efficiency. This column argues that inequality is better understood as ...

An externality is a cost or benefit related to the production or consumption of a good or service that affects third parties unrelated to the production or consumption. It is generally the unintended, ...