Externalities are the incidental effects that the activities or actions of one party have on another party. Positive externalities occur when the actions of a person or entity have a positive impact ...

The economic doctrine of “externalities” has become an excuse for governments to intervene economically in heavy-handed ways, all in the name of “saving” the ...

Most economic externalities can be efficiently solved through a system of private property rights, in which costs and ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

We economists are often faulted for having a language all our own, usually unintelligible to common mortals. (To be fair, our discipline is not unique in this: many think the language of lawyers is ...

Wine growers everywhere fear spring frosts. New vine buds emerge in the spring and are highly susceptible to freezing temperatures which can kill them and result in significant crop loss for the year.

The urgency to address corporate externalities—environmental, social, and health-related spill‑over costs—is intensifying. Hidden costs from pollution, resource depletion, and poor labor practices ...

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 ...

Capitalism dominates the globe. It has become so enmeshed into the cultural narrative that it seems almost axiomatic. Private owners (of capital) control the means of production. The goal: build ...