However, most people don't have such an effective system, and have sprinklers that consistently launch water at innocent pedestrians. Recently it occurred to me that people should be fined for such egregious "sprinkling" of water to account for the negative externalities that include someone getting wet, and the forced movement into the street, which may increase the chance that one could be hit by a car. While the second may seem a tad absurd, the first is a clear showing of how "other people" must take the cost of people watering their lawns.
Principles of Economics, 11e
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The new edition of my favorite textbook will be available on January 9,
ready for spring semester classes.
1 week ago
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