What I found absolutely hilarious about David Harvey's speech was his description of what economist's call 'externalities.' Apparently, to David Harvey at least, an externality is created when an individual is expected to bear the costs associated with the benefits they receive from goods they consume, like health care and education. According to my understanding, isn't this the exact opposite of creating an externality?
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What I found absolutely hilarious about David Harvey's speech was his description of what economist's call 'externalities.' Apparently, to David Harvey at least, an externality is created when an individual is expected to bear the costs associated with the benefits they receive from goods they consume, like health care and education. According to my understanding, isn't this the exact opposite of creating an externality?
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