23. Market Failures I: Externalities

MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber

This lectures covers externalities, which are the costs or benefits that affect a party who did not choose to incur those costs or benefits. Other topics include government solutions and government policy.

License: Creative Commons BY-NC-SA

[hriatpuiachhakchuak]

You don't know how much this means to me, someone who's teachers abandoned because they cant teach like this, ... This taught me 4 semester's worth of knowledge in one hour. Our teachers abandoned online class and i think attending this lecture would make me into an actual economist

[jai_jpg]

Huge respect for the Prof.! I can clearly see a pair of students talking and giggling.. He could ignore that and continue teaching, there is camera pointing at him and he needs to be correct at all times... Huge respect!! he is very experienced and a brilliant Prof!! Hands down!

[Mvobrito]

Please release Video Lectures of 14.41!

[cata]

Gotta appreciate the repost! Thought I would have to listen with poor quality but this saved me.

[aleneabebe]

You are really created for economics formidable şkill














Excllent lectuf

[GauravKumar-feky]

He glued me to the screen throughout the lesson

[marcospena]

Thank you so much for uploading these lectures, it really helps.

[amybio]

This is amazing! Please do more videos like this :)

[nathanielreichert]

I believe another example of when a father’s cigarette smoke is not an externality on the family is also when the entire family also smokes, right?

[alanc]

22:29 It's not just weird to pay people to correct what they have done in the first place, By paying the neighbour to remove the piles of dirt you incentivize the behavior to create problems for no reason just so that people would get a social benefit for removing them.
I would be blasting music for the sole reason that I know that people would pay me to stop blasting music, it's basically bullying people until they give you their lunch, it's basically theft, it's basically torture. if you create a negative externality the burden to remove it is on you.

[yassinejedir]

Can anyone recommend an article about a real event happening that describes the lecture mentioned in the video?

[alankarshirsath]

Did he say fucking hole in the ozone layer? 43:30

[roberttrask]

Not making sense: does not all of the steel produced result in sludge being dumped?

[nirvairsinghsandhu]

the first view, the first comment. What are the other firsts? very insightful lecture

[biloo]

amg önceki videoyu izledim başım ağrıyo sjsjsjjs

[nathalie]

Hahah "Questions about that" minute 37:16

[RodrigoFar]

This sounds a lot more like a central planning class than a economics one.

[kurtu]

Causes damage to fishermen? Ok. Sue them. Now the steel company has a cost for sludge. No market failure.

[Mike]

only 10 degrees lol end of humanity lol

[jeffca]

OMG Dr. Gruber promoting freaking statins consumption... I just came for a course in externalities not a pharmaceutical propagation of allopathic medicine. Jeez.