lectur1-page18

lectur1-page18 - considered. What do we do? What course of...

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A solution: laws are passed mandating that citizens wear a seat belt and children up to a certain age and weight be confined to approved restraint devices. Another solution: post bond sufficient to cover your financial responsibilities, then you can do as you wish with regards to a seatbelt or motorcycle helmet. Otherwise, you may be asking society to bear the burden of your decision to not utilize safety devices while operating a motor vehicle in the event of an accident. I have presented to you some perspectives that you may not have previously
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Unformatted text preview: considered. What do we do? What course of action do we take to alleviate this negative externality? That is up to you to express to political representatives. True, we are sacrificing some personal freedom if we pass a law mandating seat belt or helmet use (cost). What is the benefit from doing so? What will be the net benefit? What if we dont pass any laws (cost) that constrain personal freedoms (benefit)? What is the net benefit of this decision? 18...
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