Table of Contents from Taylor:Chapter Number/Title; Sub-section titles and page numbers |
Jim’s Comments |
14 Environmental Protection and Negative Externalities 263 Externalities 265
Pollution as a Negative Externality 265 Command-and-Control Regulation 267 Market-Oriented Environmental Tools 268 Market-Friendly Environmental Tool #1: Pollution Charges 268
Market-Friendly Environmental Tool #2: Marketable Permits 270 Market-Friendly Environmental Tool #3: Better-Defined Property Rights 271 Applying Market-Oriented Environmental Tools 272
The Benefits and Costs of U.S. Environmental Laws 273 Benefits and Costs of Clean Air and Clean Water 273
Marginal Benefits and Marginal Costs 274 The Unrealistic Goal of Zero Pollution 275 International Environmental Issues 276 |
Read closely the highlighted parts on the definition & concept of externalities. The remaining sections of this chapter |
15 Technology, Positive Externalities, and Public Goods 281 The Incentives for Developing New Technology 283
Some Grumpy Inventors 284
The Positive Externalities of New Technology 284 Contrasting Positive Externalities and Negative Externalities 286 How to Raise the Rate of Return for Innovators 287 Intellectual Property Rights 287
Government Spending on Research and Development 289 Tax Breaks for Research and Development 290 Cooperative Research and Development 290 A Balancing Act 291 Public Goods 291 The Definition of a Public Good 291
The Free Rider Problem 293 The Role of Government in Paying for Public Goods 294 Positive Externalities and Public Goods 294 |
Read closely the highlighted parts. Pay close attention to Exhibit 15-3 and the definition/concept of public goods and the “free rider problem”. |
16 Poverty and Economic Inequality 297 Drawing the Poverty Line 298
The Poverty Trap 300 The Safety Net 302 Temporary Assistance for Needy Families 303
Earned Income Credit (EIC) 303 Food Stamps 304 Medicaid 304 Other Safety Net Programs 305 Measuring Income Inequality 305 Income Distribution by Quintiles 305
Lorenz Curve 306 Causes of Growing Income Inequality 308 The Changing Composition of American Households 308
A Shift in the Distribution of Wages 308 Government Policies to Reduce Income Inequality 310 Redistribution 311
The Ladder of Opportunity 311 Inheritance Taxes 313 The Trade-off between Incentives and Income Equality 313 |
Read closely the highlighted parts.
|
20 Public Choice 375 When Voters Don’t Participate 376
Special-Interest Politics 378 Identifiable Winners, Anonymous Losers 379 Pork Barrels and Log-Rolling 380 Voting Cycles 381 Where Is Government’s Self-Correcting Mechanism? 383 A Balanced View of Markets and Government 383 Key Concepts and Summary 384 Review Questions 385 |
Read closely the entire chapter. |