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This article discusses the environmental and human health costs of power plants. These type of costs would be considered negative externalities of production, because they are harmful effects that do not effect the firm producing the power, but rather a third party, society as a whole. When producers are making the power, they value the cost as the private costs to their firms, but as outlined by this article, there are many social costs which they do not consider, and this leads to over-production, which means the market is failing, as the resources are not being allocated efficiently. An interesting aspect is that they are able to put a true "cost" on environmental and health effects, which can be quite hard to determine.

The use of normal cars creates a negative externality of consumption; through the air pollution and noise pollution that is created. The intention to launch an electric car share program in Paris reduces this negative externality; as electric cars do not make any noise and do not (directly) cause air pollution.

Although part of this article talks about the hypocrisy of staging Climate Change Comferences (due to the environmental implications of travelling to it), the middle of it talks about some economics. Instead of just harping on the envoronmental effects of climate change, people are suggesting that the negative externalities of creating pollution may begin to affect a country's GDP. This is interesting because now the social cost that the company should have paid is now being bounced back for everyone to pay.

Hello, This article talks about problem and the negative externality an 5,000 gallon oil spill has caused in a local river, which covered over two miles. The article talks about the clean up act and how some fish are dying. The article does not talk about how the dying fish will affect local trade, however, I think it should not affect it that greatly due to the fact there are other rivers and seas from which to fish in and the river was quiet small. However, the oil could get into people's drinking supply and it could make people ill. From, Tim

This article talks about how negative externalities links to taxes and how it can affect a person. It compares taxing soda with other products like fuel, cigarettes etc. and how the government makes decisions on what to tax. Quote the article: "Even as adults, we sometimes wish for parents to be looking over our shoulders and guiding us to the right decisions. The question is, do you trust the government enough to appoint it your guardian?"

This article concerns the problems that are being caused by a wagon-assembly factory in India. Not only does the factory cause air-pollution through fumes, but it also causes noise-pollution and vibrations that make living in the area very uncomfortable. This clearly illustrates how the MSC is much greater than the MPC of production, and is therefore is therefore a "Negative Externality of Production".

A market failure occurs when the transaction between a buyer and seller imposes costs on a third party and these costs are not included in the price paid. The third party impact is called an externality. When the externality is negative, like in this scenario, then we should try to limit the consumption, thus raise the price, however this has evidently not happened.

For this week, I decided to find an article that is very close to most of us, because we all, at one point or another, eat meat, as well as drink milk. When we consume these products we probably don't realize what harmful chemicals go into these products and how they can negatively affect us. This article talks about the antibiotics and hormones that are injected into livestock to increase the rate of growth as well as in cows, the increased production of milk, and how these chemicals can negatively effect us.

Russia and its partners (Belarus and Kazakhstan) are looking to seal a free trade deal with New Zealand. However, the articles talks about external issues to consider that will affect or be affected by the deal. The main concern of both parties is the current negative state of the global economy and how they intend to overcome this by trade. " "The priority goal is to fight protectionism together in all its forms; traditional and new alike ... It is important to build bridges, not walls," he said. "