RE: Externalities Explained (Video)
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I love it when viscerally sensed truths are offered in a way that invites logical, systematic thinking. I only watched half your video (other half for bedtime, on my iPad) when I thought: how relevant this approach would be to just about every political argument. Politics is really about competing interests in the actual world trying to work out solutions everyone can live with. If true externalities, both positive and negative, were acknowledged, political arguments (discussions) would be more productive. There would be a fair balance of interests...who gets hurt, who is harmed.
Of course, this is not what happens.
When I stopped watching the video, I was thinking of a blog @mobbs wrote about pork consumption in China. About hogs and pig farms. If you read his blog, you'll see why it came to mind in relation to negative externality.
A very informative post. Thank you!