Monday, November 22, 2004
The role of externalities in big picture economics
Some Roadside manure down here is down to $2 a bag in our district. That makes it about as cheap as the returns from milk (20 cents a kilo )The milk producers here clearly make more money .
No wonder the signs out - it doesn't cost anything to produce ,-
the supplier doesn't want it
-and the demand seems to exceed the supply especailly in the city .
So much for economic rationalism .
Some Roadside manure down here is down to $2 a bag in our district. That makes it about as cheap as the returns from milk (20 cents a kilo )The milk producers here clearly make more money .
No wonder the signs out - it doesn't cost anything to produce ,-
the supplier doesn't want it
-and the demand seems to exceed the supply especailly in the city .
So much for economic rationalism .
