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Unformatted text preview: think twice or even three times before you make a choice that may have very expensive consequences for all the persons that will be affected by the choice that you make. You choice you make, affects others (externalities). Remember we have only accounted for the monetary costs of this situation. There are costs that are difficult to quantify such as the psychic, emotional, and time costs that are endured by you and all the individuals affected by your decision. There are also psychic, emotional, and time benefits associated with having and raising children that an economist cannot quantify either. 17...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10