Externalities are the incidental effects that the activities or actions of one party have on another party. Positive externalities occur when the actions of a person or entity have a positive impact ...

CONSUMPTION, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

Introductory-level economics uses supply and demand curves to identify the "ideal" price for a product, service or other economic activity. In Econ 101, these curves assume that the economy is working ...

To what extent does the digital world create a culture in which responsibility is denied or avoided, and what are the consequences of this failure to take ownership of a problem? Taking responsibility ...

Written by Peter H. Swan, Ph.D. The railroad industry is in crisis. Many people outside and inside the industry are quick to blame its current state on Precision Scheduled Railroading (PSR) and Wall ...

Al Gore and David Blood’s op-ed “ESG Investing Is Consistent with Fiduciary Duty” (Nov. 9) includes two examples that highlight the best way to handle externalities, the economic term for costs ...

I agree with the main points you were making in the “immigrants and markets” post but, at the risk of being accused of demanding proctological exactitude, I think it’s worth clarifying the issue “of ...