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Unformatted text preview: outcome is justified. Government failure occurs when government intervention does not improve the situation. Externalities are the effect of a decision on a third party that is not taken into account by the decision maker. Externalities can be either positive or negative. FOUR TOPICS 1. Globalization 2. Speculation Debt 3. Peak Oil 4. Environment...
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This note was uploaded on 04/11/2008 for the course PHIL 105 taught by Professor Green during the Fall '07 term at SUNY Oneonta.
- Fall '07