Scot Wick Blog

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 4 The Economics of the Public Sector Chapter 10 of 36 Externalities Section 10 of 18 … Government can respond to market failure externalities in two ways 1 · Regulations: government mandated command and control policies to directly regulate behavior 2 · Corrective taxes and subsidies and tradable pollution permits: market-based policies that incentivize private decision makers to solve the problem … 1 · Regulations Government can attempt to remedy a market failure externality by requiring or forbidding certain behaviors An example is to make it a crime to dump poisonous chemicals into the water supply. … It would be impossible to prohibit all pollution. Virtually all forms of manufacturing and transportation produce some undesirable polluting byproducts. Instead of trying to eradicate pollution entirely, society weighs the costs and benefits of an activity creating pollutants, then decides the types and

  Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 4 The Economics of the Public Sector Chapter 10 of 36 Externalities Section 9 of 18 … Many economists believe government should encourage industries that create large positive technological externalities spillovers. If making computer chips yields greater spillovers than making potato chips government should encourage production of computer chips and not production of potato chips. The U.S. tax code provides this encouragement with special tax incentives for research and development. … Government intervention in the economy that aims to promote technology-enhancing industries is called “industrial policy.” Many economists are skeptics about industrial policy. Even if technology spillovers exist the success of an industrial policy requires the government be able to correctly measure the size of the spillovers based on economics not politics. Without correct and precise measurements based on economics · the

  Picture 241005 Weight at 166 pounds, got to 160 pounds five years ago and have been bouncing between 157 and 168 since. Common sense ways to lose and keep off weight are eat right and light and get lots of exercise. Main exercise is walking, do 1~2 miles most days. Over career worked as a salesman in the steelmaking, fasteners, and auto manufacturing industries, lots of travel in U.S., Canada, Mexico, and Japan. Over the years have visited every U.S. city with a major league, MLB, NFL, NBA, NHL, sports team except Sacramento, have gotten as close as Travis Air Force Base. Often traveled on Sundays, much time on the road so could not eat right and get enough exercise so got heavy, up to 200 lbs. Was on commission and made enough to retire early, now eat right and light, get enough exercise, and now am spending most time reading and writing. Our Wick branch goes back to the brother of owner of Wick House in Morristown New Jersey and on back to Staines England. Have lived here in Munste

  “The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds.” - William James “All experience has shown mankind are more disposed to suffer,while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.” - Thomas Jefferson “Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind.” - Leonardo da Vinci “Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents would

  The world we see that seems so insane is the result of a belief system that is not working. To perceive the world differently, we must be willing to change our belief system, let the past slip away, expand our sense of now, and dissolve the fear in our minds. - William James All experience has shown mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. - Thomas Jefferson Wherever good fortune enters, envy lays siege and attacks it. And when it departs, sorrow and repentance remain behind. - Leonardo da Vinci Struggle is the indispensable accompaniment of progress. If men were entirely social, man would stagnate. A certain alloy of individualism and competition is required to make the human species survive and grow. Without qualities of an unsocial kind men might have led an Arcadian shepherd life in complete harmony, contentment, and mutual love. But in that case all their talents would have fo