tag:blogger.com,1999:blog-6824345661289105799.post6648387673117510848..comments2023-11-03T08:36:09.683-05:00Comments on Brooks Wilson's Economics Blog: Bauman, the Stand-up Economist, UpdatedBrooks M. Wilsonhttp://www.blogger.com/profile/17097849558228531431noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6824345661289105799.post-25383508291586880032011-03-01T21:29:19.570-06:002011-03-01T21:29:19.570-06:00Bauman has way of explaining things that grabs you...Bauman has way of explaining things that grabs your attention. Nothing helps digest material like a little humor mixed in.<br /><br />The example for a failing market seemed exceptionally easy to connect with. In his very simplistic sample market, we have a situation where all eventually end with a negative value. However, at any step before that, at least one individual retains a positive value from the trade: Orange and Pink in the first trade, Pink in the second. <br /><br />In this scenario, Pink has every motive to accept both the first and second trade, while trying to prevent the third. For the third and final trade, both Orange and Blue will benefit from their trade while Pink will incur the added cost of more pollution. As he relates this to carbon/pollution control amongst sovereign nations, who has the authority to prevent any of the two countries from trading? And given that an entity exists with that power (worldwide coalition? UN?), how could situations like this be handled where the hidden cost of free trade will remain unknown for some time and some parties might end up worse off than others?James Emmelenoreply@blogger.comtag:blogger.com,1999:blog-6824345661289105799.post-5204810681187214292011-02-23T20:36:46.644-06:002011-02-23T20:36:46.644-06:00I liked this :)
I thought I understood the ten pri...I liked this :)<br />I thought I understood the ten principles pretty well, but I did not realize that opportunity costs change when the circumstance itself changes in a small way, like with the Snickers. That made me really have to think!<br /><br />- Arielle HarrisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6824345661289105799.post-53755322143338696252011-02-13T20:39:25.748-06:002011-02-13T20:39:25.748-06:00I disagree with a carbon tax. I think all most of...I disagree with a carbon tax. I think all most of the "global warming" awareness is another way to charge more when the products say it is "green." <br /><br />-Heather Harvard-RothAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6824345661289105799.post-5214122983770099402011-02-10T22:08:23.178-06:002011-02-10T22:08:23.178-06:00good read
- micro economics and market systemsgood read<br /><br />- <a href="http://scootland-economics.blogspot.com" rel="nofollow">micro economics and market systems</a>Scootland Economicshttps://www.blogger.com/profile/15761305973067659959noreply@blogger.com