Betty!

For more then 30 years, I have heard Angus call himself "Betty."  (Nope, no more details.  Just trust me here.)

So, in honor of Angus, I made a video about externalities in which Betty figures prominently.  I am not a very attractive man, but it turns out I am a genuinely repulsive woman.




A credit:  I had never recognized the centrality of manners, and "moral" social norms in controlling externalities.  But my main man Russ Roberts pointed it out in editing this piece, and then doing this podcast, years ago.  So, a big post Festival of Lights shout out to RR:  when I say "Manners," I always think of YOU, big man!

UPDATE:  Sam Wilson, yes, of COURSE the model for Art is the Dub-MOE.  I even tried to get that vacant Pooh-bear expression down.  As for Carl....well, a guy needs SOME secrets. 

UPDATE II:  I don't mean to claim there is anything intellectually novel here, folks.  My good friend John Nye had a very nice piece, years ago, that makes the "knowledge problem" point way better in print.  And this recent post by Steven Landsburg did a nice job summarizing the issues, and the problems, of an arbitrary "starting point."  Oh, and Mario Rizzo, too.  I could go on, but the point is that I am sumarizing what a lot of people already know, but rarely gets taught when the subject of externalities comes up in basic micro courses.