In class I mentioned a Paul Krugman article on the negative externalities associated with fracking; you can find it here. As Krugman so aptly puts it,
Economics 101 tells us that an industry imposing large costs on third parties should be required to “internalize” those costs — that is, to pay for the damage it inflicts, treating that damage as a cost of production. … So it’s worth pointing out that special treatment for fracking makes a mockery of free-market principles. Pro-fracking politicians claim to be against subsidies, yet letting an industry impose costs without paying compensation is in effect a huge subsidy.
Prep
- John Atlas and Peter Dreier, ‘Is The Wire Too Cynical?’, Dissent (25 March 2008)
In Class
- Attendance
- Video: The Wire (Season 1, Episode 1)
- BREAK
- Writing Workshop
- For Next Time
For Next Time
- TBA
