Externality

diminish the social problems such as crimes because the less advantaged will see improvements in their living standards. Families with children will have access to opportunities such as better education which in the long run will create positive externalities for society. However, the increase in welfare benefit requires compensation by other reforms such as increasing taxation (e.g. VAT and income tax). Increasing income tax may be very risky because in doing so, it creates a major disincentive…

Leaves of Grass: Walt Whitman’s “Song of Myself” “Song of Myself,” by Walt Whitman is a meditative poem combining his religious and political ideals. In Whitman’s poetry, symbolism and sermons are used to present important subjects. With the author’s persona, the poem captures the unique blend of national confidence and fear for the future by using grass, a symbol of democracy which grows everywhere. Many historical events were occurring during the period of his life. The imminent Civil War…

Except creating new travel patterns for people, developed infrastructure increases operational opportunities for firms (Banister D., Berechman J., 1999). There are for example products that have to be transported within few hours and be available at certain radius. Providing firms with new transport options help them to expand and ensure their output is vastly available on the commercial market. Improved infrastructure increases potential output of the factory and makes production more…

The possible solutions to energy conservation issues are: finding alternate sources of energy (such as solar panels for solar energy, hydroelectric power, wind turbines generating wind power, electric cars, etc.) and conserving or more efficiently using fossil fuels (by carpooling, using alternate versions of similar products that are environment friendly, using less resources, etc.). 2. Why would some people oppose the solutions you have chosen? Some people would oppose finding other…

for the Americas. I also believe meritocracy would have been more prominent throughout Europe, this leading to more efficiency. Since Napoleon was a supporter of selecting based on ability, inefficient nobilities would no longer cause negative externalities on the battle field and in the economy. One thing I felt the writer felt to address was some of the negatives Napoleon reestablished. One being woman becoming less equal than men. If Napoleon did not lose Waterloo I feel this new…

also not as effective as the carbon tax. Since the gas tax is set by the government and based on the effects of gasoline use, it would only be efficient if it equaled the marginal damage of gasoline use. This is equal to the value of negative externalities resulted from gasoline use like pollution or traffic congestion. Also, unlike the carbon tax and cap and trade system, revenues from the gas tax could not be used to offset regressive impacts of raising the price of fossil fuels as revenues…

Ernest Hemingway was a big drinker and so does his character. He appears to draw on personal experience in “A clean Well-Lighted Place”. He suffered from Alcoholism, depression and loneliness. He searched for the meaning of life. The story is more about loneliness, isolation, depression, etc. In his short story "A Clean, Well-Lighted Place," Ernest Hemingway employs the literary tools of theme, symbol, and setting. Ernest Hemingway explores several themes in his short story "A Clean,…

of of the Eighteenth Century in Schulte iii. England, has been given some credit for starting the debate on whether industrialization has left a positive or negative imprint on society (Russel 109). Environmental destruction, otherwise known as externality, had become a major concern as the Revolution reached its peak. Industry uses coal or oil to power machines, and in 2010, less than five percent of the world's population used almost a quarter of the world's fossil fuel resources to run…

Principally, Aristotle’s views on human nature plays an essential role in his eudemonia theory, which is based on human beings having an end goal, which is to pursue happiness. On Aristotle’s account, men do not naturally have a society-determined way of functioning, thus their different ability to retain virtues is part of human nature. The concept of eudemonia is therefore a doctrine rooted within human nature but requires a social input so as to attain its actualization point (Sachs, 2002).…

smoke was the potential health risks that cigarettes cause. We could argue that the that there is still a lack of information because not everyone is aware of the cost of smoking however it is clear that most people are accepting the negative externalities of smoking and are aware of most of them. The smokers were then asked to how many packs of cigarettes they consume a…