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Topic: Business
Number of pages / Number of words: 10 / 2767
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This means that externalities are the roots of all kinds of policy issues. Wheelan makes use of examples we would rarely look into such as the formulation of a policy in providing baby seats in the airplane as ultimately unwise in the long run. He uses other examples such as the use of mobile phones and the issue on global warming...


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He uses other examples such as the use of mobile phones and the issue on global warming. As he goes along, he poses questions tackling each issue. For example, he ponders, "Where is the invisible hand when it is needed to administer a good smack?" He continues to probe on several externalities that are both positive and negative, illustrating this with the practice of smoking cigarettes...


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