In Chapter 10 and 11 we discuss the concepts of Externalities, Common Recourses, and Public Goods.
How can we apply these concepts to what is going on today in the news? What externalities are there from people’s behavior choices? What are the Common Resources involved? What are the identifiable public goods? Look for a news article online that might talk about externalities.
How can these concepts be applied to the concepts of congestion in South Florida, Global Warming, and our relationships with our significant others’?
Do a bit of reading and give us all your perspective on these subjects.