The line between having a meddlesome preference and recognizing an externality is not always clear. Both are
Question:
The line between “having a meddlesome preference” and “recognizing an externality” is not always clear. Both are ways of saying, “What you’re doing bothers me.” As we used it in this chapter, a “meddlesome preference” is something that reasonable people should just not worry about so much. By contrast, “recognizing an externality” is a way of advancing the subject for public discussion and perhaps even for a vote. In the town you grew up in, which of the following issues were considered things that should be left to individuals and which were things that should be put up for a vote? Is there a good way of distinguishing between the two?
a. The amount of pollution emitted by a local factory
b. How much noise would be allowed after 11 pm
c. Whether siblings should be allowed to marry, even if it is consensual
d. Where liquor stores could be located
e. How people should dress in public
f. How many children someone should have
Step by Step Answer:
Modern Principles Of Microeconomics
ISBN: 9781429278416
3rd Edition
Authors: Tyler Cowen, , Alex Tabarrok