The Coronavirus, not the beer

thethe said:
I see that and he is 100% right.

An externality, or a side effect or consequence of a decision made that wasn't included in the original forecast, would include the transportation industry coming to a halt because workers are uniting against a vaccine mandate.

Its pretty clear.
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no that's an unintended consequence

an externality is when a factory pollutes water downstream without bearing the costs of this pollution

an unintended consequence is when the factory shuts down due to excessive regulatory zeal

these are two pretty different things
 
Jaw said:
Southwest Airlines would likely disagree with you at the moment. As would the thousands who have been delayed.
As would shipbuilders who already struggle to find qualified staff and will now have to fire some of them due to government contracts. But again, you knew your statement wasn't valid when you made it.
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see my explanation above

but y'all are free to use the term as you wish

i'm just pointing out that it is an idiosyncratic usage

i might add economists would not use the word externality to describe something that grows out of action by government...it is used to describe a situation where two or more private parties engage in a transaction that imposes a cost (or in rare cases a benefit) on another party

or as brother thethe has it: a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey
 
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nsacpi said:
no that's an unintended consequence

an externality is when a factory pollutes water downstream without bearing the costs of this pollution

an unintended consequence is when the factory shuts down due to excessive regulatory zeal

these are two pretty different things
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Its a direct result of the action which was implemented. It just wasn't foreseen because they are foolish ideologues.
 
If I sneeze and make people sick that's an externality, since they don't get to charge me for it.

If the government bans sneezing and all of our heads explode, that's an unintended consquence.
 
sturg33 said:
You are free to gleefully cheer the mass firings of your fellow citizens.

So easy to see how mass atrocities were allowed to occur in world history. Too many buffoons
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i celebrate the fact they live in a wonderful country where they are free to take their lives in a new direction
 
They were free to do that 2 months ago. Now they are being forced.

You will defend it every step of the way. An old man mandating young people do what he wants bc he's scared is so pathetic
 
I might add against any putative unintended consequences (such as cancelled flights) should be weighed the benefits of these mandates...lives saved, medical expenses averted, disabilities and long-term medical problems averted

plus job opportunities created for those who choose to vaccinate
 
R.2e8051ec0d9a4989d27a9903bcf19da5
 
thethe said:

a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey.

You sure about that?
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He’s technically right. It’s a weird argument and I’d challenge that colloquially externalities are understood as synonymous with unintended consequences, but he’s right.
 
I truly wish we could have lived in a world where Donald Trump ordered the mass firing of private employees if they did not comply with an order he made, just to see the difference in reactions from our liberal friends
 
mqt said:
He’s technically right. It’s a weird argument and I’d challenge that colloquially externalities are understood as synonymous with unintended consequences, but he’s right.
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The other part is that externalities are a big part of economic analysis of situations where you have market failure. Where a decentralized pricing system fails to send the right signals to get an efficient outcome.

A government mandate is very far from an example of market failure. It is not even a market transaction or something that could potentially be part of a market transaction. You could call it an example of government failure if you thought it was bad policy. But a kind of market failure it aint.

If we had a market in the air we breathe, people could in principle charge each other for polluting it with covid. But obviously such a market does not exist. This is why a contagious air-borne disease generates externalities or is an example of market failure. Because there is no market there is no pricing system to incentivize the right kind of behavior.
 
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Anecdotally, from vaxxed and unvaxxed friends, the push to mandates has increased resistance tenfold

You dont have to mandate a good product
 
Shoutout to Puerto Rico. Higher vaccination rate than any state. Lower hospitalization rate than any state.

Coincidence? I think not.
 
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