Reinterpreting the externality problem – Harold Demsetz
This essay, from his 2008 book, From Economic Man to Economic System, holds the key to properly understanding the concept of externalities. I’m making annotated notes (in blue colour) here, which I’ll develop further in my paper “The Problem of Social Benefit: What Problem?” – under preparation. == Extract from the essay: Ownership and exchange […]
Source: https://www.sabhlokcity.com/2023/10/reinterpreting-the-externality-problem-harold-demsetz/
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