Externalities are the incidental effects that the activities or actions of one party have on another party. Positive externalities occur when the actions of a person or entity have a positive impact ...

To what extent does the digital world create a culture in which responsibility is denied or avoided, and what are the consequences of this failure to take ownership of a problem? Taking responsibility ...

One of the fundamental concepts in economics is that people buy and sell goods and services from each other for their mutual benefit. For instance, when you visit your favorite corner coffee bar, ...

Sounil is the CISO of JupiterOne and creator of the Cyber Defense Matrix and DIE Triad, which are reshaping how we approach cybersecurity. Digital transformation has created tremendous growth in the ...

Capitalism dominates the globe. It has become so enmeshed into the cultural narrative that it seems almost axiomatic. Private owners (of capital) control the means of production. The goal: build ...

Consumption, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

The Concise Encyclopedia of Economics begins its article on public goods and externalities with the statement that “most economic arguments for government intervention are based on the idea that the ...

An externality is a cost or benefit related to the production or consumption of a good or service that affects third parties unrelated to the production or consumption. It is generally the unintended, ...