Microeconomics, Public Economics
Market Failures, Externalities, and Public Goods Markets are amazing — but sometimes they get it spectacularly wrong Markets don’t always work perfectly In your textbook, markets sound like a beautiful, self-correcting machine. Supply meets demand, price...
Financial Economics, Mathematical Economics, Microeconomics, Public Economics
Net Present Value: Discounting, Investment Appraisal and the Rate That Decides EverythingA pound today is worth more than a pound next year. Everyone nods at that. Almost nobody appreciates that the exact size of “more” — a single number chosen before any...
Environmental Economics, Microeconomics, Public Economics
Introduction: The Externality That Ate the Planet Climate change is, in the standard economic framing, the largest market failure in human history. Every tonne of carbon dioxide released imposes a cost on people who did not consent to it, were not compensated for it,...
