Go to wikipedia and search market failures. It'll tell you public goods is one of them. Click on public goods and it'll even have a paragraph about how air is a public good thus a market failure. Now stop personally attacking me because you didn't like part of my extra credit assignment from high school. I'm assuming your in high school because you talk like you are. Show this to your economics teacher and he'll say I'm right.
There are different schools of thought in economics w regards to public goods and market failures. Public choice economists will point out that "failure" is usually subjective, and government is not deus ex machina so even if your subjective goal is to remedy a perceived market failure, it doesn't follow that "government should do it."
Air is nonexcludable but marginally rivalrous due to pollution, so it is a kind of "failure" as in suboptimal but not due to "markets."
Either way the music video never mentioned privatizing beaches. It talked about a private lifeguard service for the beaches as oppose to public saying "You have to pay to get saved." If that happened, no one would pay for it. They would just go to the beach and ignore the service. It never mentioned an "entrance fee." You pulled that out of your ass. However people need to be rescued. Private lifeguard businesses would never survive so the government has to take over. A MARKET FAILURE
The music video did not say that, correct, except you were not writing a fiction, you were making a video about economics, and taking a lame ass business model, and inferring market failure from it is just ridiculous and ignorant. The point is, don't talk about Market failures until you find one NOT CAUSED BY THE GOVT.
You just lost all credibility. Lifeguards are a public good. A public good is a market failure. A market failure caused by the government. That section was about public goods. Google it. This is over.
You're missing the point. Anything can be privatized but it won't be. Can air be privatized? Yes. But it will never be. The revenue received from privatizing air will never cover the highly expensive costs to find some way to privatize it. No one would pay for it and it would shut down. A market failure. It's a public good.
Air can be privatized but currently it doesn't need to be privatized because it is in abundance. You merely stated law of diminishing utility, yes buddy that's how any business is done. You produce an additional unit of your product until the cost of producing that additional unit exceeds the price it will fetch from the market.
So if that happens with Air too, until the price of air goes high enough(coz of pollution) nobody is going to sell it, Doesn't prove that air cannot be privatized.
Bro I said it can be privatized. It just won't be because it's not cost effective and the day that the price goes high enough for air that it'll be cost effect, the demand will be perfectly inelastic leaving like 2 people in that demand curve which means no one else will get air which means everyone will be dead. You're proving points that have nothing to do with my argument...
You guys are basically saying that if govt does not step in and pay for the cost of security, then in Disney Land the Mickey Mouse who packs heat will not protect your kid from a predator until you pay him $20 first.
If the beaches were private the cost of cleaning up, life guard, etc etc will be covered by entry tickets, or by charging the vendors doing the business there.
Try playing the game 'Beach Life'(or RCTycoon), and consider it as a part of your economics studies.
You guys are basically saying that if govt does not step in and pay for the cost of security, then in Disney Land the Mickey Mouse who packs heat will not protect your kid from a predator until you pay him $20 first.
Not being able to privatize beaches is not Market failure. If we nationalize Disney Land/World, Six Flags etc a lot more people will go, and they will grow accustomed to tax subsidized ticket prices, and then it will all be dirty, so called 'negative externalities' will exist.
The only reason why beaches aren't privatized(some beaches are private but most of them dont) is because:
1) Beaches represent border, govt will rather control it than privatize it
2) Lack of Political Will, privatizing the beaches would be an unpopular move, but it doesn't mean people won't pay for it.
People pay for a Carnival, its not a public good, why wouldn't they pay for a beach. Those who go there too often get season pass. Those with good beach bodies get free entry(I know that would be a good model).
If people are voting to not privatize the beaches because democracy is not market, that is not a market failure. Anything can be privatized, rivers, oceans, air.
You're missing the point. Anything can be privatized but it won't be. Can air be privatized? Yes. But it will never be. The revenue received from privatizing air will never cover the highly expensive costs to find some way to privatize it. No one would pay for it and it would shut down. A market failure. It's a public good.
Either way the music video never mentioned privatizing beaches. It talked about a private lifeguard service for the beaches as oppose to public saying "You have to pay to get saved." If that happened, no one would pay for it. They would just go to the beach and ignore the service. It never mentioned an "entrance fee." You pulled that out of your ass. However people need to be rescued. Private lifeguard businesses would never survive so the government has to take over. A MARKET FAILURE
You guys are smart, and would go really far working for the govt, but take my advice don't bother getting into business, you will be an epic fail. Why? Because of the ridiculously stupid business model you thought to for market failure(lifeguard one).
My 12 yr old nephew can think of better business models to pay for a lifeguard, but of course you have to consider the possibility of a privatized beaches. And he just plays the video game 'Roller Coaster Tycoon'.
This is all sorts of winning, hahaha.
staxxLK 3 months ago
everyone check out sk graphs on graphs on graphs, that's what the real micro rap is
zayre3 9 months ago
Great rap!
moniequa 1 year ago
if u wanna really learn something about economics, type in "microeconomics: second period swag"
halfpipe302 1 year ago
Love love love this video, cute guys, funny song, creative and different. Gotta love it [: peace it.
justenlover1 1 year ago
great job u guys! that was awesome :D
chandralekha16 1 year ago
Air is privatized in cities with high pollution.
Anyways, this video was fun to watch on break..I'm cramming for my IB Econ test :/.
Good job :D
adri1315 1 year ago
Go to wikipedia and search market failures. It'll tell you public goods is one of them. Click on public goods and it'll even have a paragraph about how air is a public good thus a market failure. Now stop personally attacking me because you didn't like part of my extra credit assignment from high school. I'm assuming your in high school because you talk like you are. Show this to your economics teacher and he'll say I'm right.
oh and fuck off
esquire243 1 year ago
@esquire243
There are different schools of thought in economics w regards to public goods and market failures. Public choice economists will point out that "failure" is usually subjective, and government is not deus ex machina so even if your subjective goal is to remedy a perceived market failure, it doesn't follow that "government should do it."
Air is nonexcludable but marginally rivalrous due to pollution, so it is a kind of "failure" as in suboptimal but not due to "markets."
asdfgasdfasdful 1 year ago
Either way the music video never mentioned privatizing beaches. It talked about a private lifeguard service for the beaches as oppose to public saying "You have to pay to get saved." If that happened, no one would pay for it. They would just go to the beach and ignore the service. It never mentioned an "entrance fee." You pulled that out of your ass. However people need to be rescued. Private lifeguard businesses would never survive so the government has to take over. A MARKET FAILURE
esquire243 1 year ago
The music video did not say that, correct, except you were not writing a fiction, you were making a video about economics, and taking a lame ass business model, and inferring market failure from it is just ridiculous and ignorant. The point is, don't talk about Market failures until you find one NOT CAUSED BY THE GOVT.
prashantpawar 1 year ago
You just lost all credibility. Lifeguards are a public good. A public good is a market failure. A market failure caused by the government. That section was about public goods. Google it. This is over.
esquire243 1 year ago
You're missing the point. Anything can be privatized but it won't be. Can air be privatized? Yes. But it will never be. The revenue received from privatizing air will never cover the highly expensive costs to find some way to privatize it. No one would pay for it and it would shut down. A market failure. It's a public good.
esquire243 1 year ago
Air can be privatized but currently it doesn't need to be privatized because it is in abundance. You merely stated law of diminishing utility, yes buddy that's how any business is done. You produce an additional unit of your product until the cost of producing that additional unit exceeds the price it will fetch from the market.
So if that happens with Air too, until the price of air goes high enough(coz of pollution) nobody is going to sell it, Doesn't prove that air cannot be privatized.
prashantpawar 1 year ago
Doesn't prove that air cannot be privatized.
Bro I said it can be privatized. It just won't be because it's not cost effective and the day that the price goes high enough for air that it'll be cost effect, the demand will be perfectly inelastic leaving like 2 people in that demand curve which means no one else will get air which means everyone will be dead. You're proving points that have nothing to do with my argument...
esquire243 1 year ago
Comment removed
esquire243 1 year ago
You guys are basically saying that if govt does not step in and pay for the cost of security, then in Disney Land the Mickey Mouse who packs heat will not protect your kid from a predator until you pay him $20 first.
If the beaches were private the cost of cleaning up, life guard, etc etc will be covered by entry tickets, or by charging the vendors doing the business there.
Try playing the game 'Beach Life'(or RCTycoon), and consider it as a part of your economics studies.
prashantpawar 1 year ago
Comment removed
esquire243 1 year ago
This has been flagged as spam show
You guys are basically saying that if govt does not step in and pay for the cost of security, then in Disney Land the Mickey Mouse who packs heat will not protect your kid from a predator until you pay him $20 first.
1. What the fuck does this mean?
esquire243 1 year ago
Comment removed
esquire243 1 year ago
Not being able to privatize beaches is not Market failure. If we nationalize Disney Land/World, Six Flags etc a lot more people will go, and they will grow accustomed to tax subsidized ticket prices, and then it will all be dirty, so called 'negative externalities' will exist.
The only reason why beaches aren't privatized(some beaches are private but most of them dont) is because:
1) Beaches represent border, govt will rather control it than privatize it
prashantpawar 1 year ago
2) Lack of Political Will, privatizing the beaches would be an unpopular move, but it doesn't mean people won't pay for it.
People pay for a Carnival, its not a public good, why wouldn't they pay for a beach. Those who go there too often get season pass. Those with good beach bodies get free entry(I know that would be a good model).
If people are voting to not privatize the beaches because democracy is not market, that is not a market failure. Anything can be privatized, rivers, oceans, air.
prashantpawar 1 year ago
You're missing the point. Anything can be privatized but it won't be. Can air be privatized? Yes. But it will never be. The revenue received from privatizing air will never cover the highly expensive costs to find some way to privatize it. No one would pay for it and it would shut down. A market failure. It's a public good.
esquire243 1 year ago
Either way the music video never mentioned privatizing beaches. It talked about a private lifeguard service for the beaches as oppose to public saying "You have to pay to get saved." If that happened, no one would pay for it. They would just go to the beach and ignore the service. It never mentioned an "entrance fee." You pulled that out of your ass. However people need to be rescued. Private lifeguard businesses would never survive so the government has to take over. A MARKET FAILURE
esquire243 1 year ago
Comment removed
esquire243 1 year ago
You guys are smart, and would go really far working for the govt, but take my advice don't bother getting into business, you will be an epic fail. Why? Because of the ridiculously stupid business model you thought to for market failure(lifeguard one).
My 12 yr old nephew can think of better business models to pay for a lifeguard, but of course you have to consider the possibility of a privatized beaches. And he just plays the video game 'Roller Coaster Tycoon'.
prashantpawar 1 year ago
Nice video, but Dad deserves some credit. After all, operating the camera for ten seconds is mighty difficult. Miss you!
auntnickyny 2 years ago
That was sick! But EFSTBYK's still gonna pwn so...
Zeaky0arteest 2 years ago
hahahaha.. tucker would make a nice substitute wouldnt he.
nice job ladies
maddayfo 2 years ago
Econa bin Laden forever!!!
Aabicus 2 years ago
A+ would watch again
LOLifornia 2 years ago 3