positive externalities

[billyboybrown]

you legend!



[tamebike50]

I watch a lot of your videos and they really help me clearly, i can understand a topic so quickly by watching you. Please never stop making these videos. Come back to the UK as well.

[Prinxali]

If Market Failure comes up on the May IB exam, you're the reason I'm acing it!

[takadi]

Is there any way of solving the positive externality problem without government intervention? It's one of those few things in economics where I think the only way for it to be solved is through taxation or subsidies.

[skaterchiica]

you are amazing! VERY helpful videos. It must feel awesome to help so many students :) keep up the awesomeness :)

[jiancexiao]

thank you so much ,it helps a lot

[ThyderThyderThyder]

9:18 LOL!

[whatthehellhk]

You are definitely a merit good generating postive externalities :)

[Ozair93]

Im so glad I dont find you attractive, my economics teachers bum makes it rather difficult to learn .

[Bobjit]

I love you.

[MCKlonez]

I wish I had you as an Economics teacher!!!

[gracejepson]

THANKYOU SO MUCH!!!

[EmiRozitu]

@TheDanAdibi AQA.

[EmiRozitu]

I absolutely adore these. When my teacher is being a downright ass and doesn't teach us right, I come here.

Here's to hoping these will get me an A tomorrow. :D

[TheDanAdibi]

@EmiRozitu you doing edexcel?

[ElliotDWhite]

At 6:30, is that a Free Rider?

[bluez999]

6 People played this video in mute without realising...

[TheJambo36]

you said the market fails as its under produces when the market is actually failing due to under consumption...

[Lovem388]

Thank you.. gettin ready for exam in a couple of days, your vidieos are very usefull ;p :)))

[somekindofawesome1]

6 people found this video after they failed

[Monkman192]

Brilliant video with great examples, helped me very much. Thank you! :)

[MrMachinimaRespawn15]

I used to be an economist, then i took an arrow to the knee.

[Nameless101ification]

This is great. I can stop, pause and rewind my teacher =)

[21cmorin]

This guy is a beauty!!

[tricky12321]

what about welfare gain?

[dairymilk13]

Top notch vid boss :b

[willuyt]

@dairymilk13 hhahahaha

[StitchMitch1]

Tertiary education: $20,000-$60,000 (avg)

Cost of viewing 1 Youtube video: ~$0.04

Getting a distinction on an assignment because this guy's a legend: Priceless.

Your externalities videos taught me more in 16 minutes than my lecturer could have in 2 hours.. Much appreciated, your videos are fantastic, keep up the great work!!

[Guitarman0]

I have just started my AS course and unfortunately I have 2 very poor teachers for Economics. You have just become my 3rd (and by far the best) teacher. I have just recommended you to the rest of my class and all we have to say is your videos are nothing short of brilliant. Many many thanks!

[Sinmi100]

thank u very much..it very helps

[MissOutsiderForever]

My teacher introduced me to your videos :D

I'm going to continue using your videos :)

[fjorgploog]

Great video. I'm in comm 394 and this has helped refresh my mind with micro/macro concepts.

[sweetlicious]

i wish this guy was my professor

[thecolincolincolin]

I've learnt almost my entire economics module from watching your videos. Thank you !

[mstcpa248]

The real world examples really drive home the point. You are a phenomenal teacher.

[daidailoi40]

Thank you so much! I hardly understand what my professor explained. This video really help me.

[atwodollarnote]

THANK YOU!

[funkaye17]

Sir, by you making these videos you generate positive extenalities for society :)

Thank you !

[chelseaex]

OMG YOU ARE AMAZINGGGGGGGGG. I LOVE HOW YOU TEACH. you should really be my teacher haha. YOU ARE REALLY AMAZING!!!!!!!!! I totally need tuition haha

[0630430]

Love the wig sketch lol

I definitely think you should add a little comedy piece at the end of each video.

Thank you so much for all these videos! I have my exam coming up in 3 days for micro - you have been a massive help!

Efharisto!

[juthubel]

1 week of school in 10 mins. That's efficient. Thank you!!

[cliffist]

fantastic video's I have been watching them for roughly a couple of years now, they really clear up where the lecturers make a mess.

thanks for the time.

[mallomalz]

the question, merit goods should be produced by government .... can we use this diagram to ans that question??

[y0utube786]

Thank you for the help. I have an alevel exam tomorrow and I was worrying because I couldn't find anything about this in my text book. :)

[Pawfict]

This is so helpful! I have my micro AS exam tomorrow, and your videos are really helping

[conman115]

thanks for all the help

[GreatBritishGal]

Usually when something like this comes up in a textbook my mind won't let me learn it but the way you explain it...I don't go away thinking choosing economics was the worst choice I've ever made :)

[claudialovin]

THIS IS GREAAAAAT

THANKS TO YOU!

[MillersCasual]

Great video!

I was, however, just wondering why the MPC/MSC line doesn't depict the 'U' shape at the beginning. My textbook suggests the law of diminishing returns would create this shape. In my exam would I loose/gain marks on my diagrams for including this?

[Ocmobile1]

Nice examples, makes lecture interesting.

[tricky12321]

I though that the mpb gave a knock of effect sort of thing to actually produce the msb meaning that there is welfair gain?

[danielkommen]

i love u man !!

[juanmaargentina]

You are the best explainer Ive ever seen in 2 years of University... you were really born to teach and explain. Ur communication skills are excellent and the flow of your ideas is EVEN BETTER, which is the key to teach economics in an "efficient way". thank you very much for the positive externality that you are providing to the society, and by which we all are better off!!

[92Yusif]

Thank you !

[unbearablegummybear]

IB economics exams coming in two days.

this saves my life.

love the wig in the end :)

[conn0r1994]

Very helpful! my economics teacher is a useless cunt

[PlasticFunnel]

@conn0r1994 DAMN FUCK RIGHT LOL. Economic teachers are a fucking dick who copy from the book. This man is a fucking gem! THANKS!

[assrectum]

You should really gather a class from California, or the united states itself to travel to Italy and be instructed by you. i would pay if you offered an economics course for college credit.

[johanalaloca]

I've learned more from you in ten minutes than I have in a semester worth of going to lecture. Thank you so much you have helped me tremendously.

[Hayze42]

I'm sure you know by now, but these videos are an invaluable resource for students , like myself, who studying economics. Your explanations are easy to understand, without sacrificing content. Thank you for all your help!

[SuBMrksBeats]

you are the kiiing!

[yobitch1993nick]

slap up a merit goods and demerits good video

[jagrit94]

You are the best! This helps in IB economics as well. WOW!

You're a life saver.

[PlasticFunnel]

@jagrit94 Hey man! I'm studying IB Economics as well! Apart from this guy do you have any other awesome sources? :D Would love to yknow chat to a fellow IBer ;)

[coucoumelishita]

Hi Thanks a lot for the videos!!!! I watched all your videos because of your accent.... there's nothing more annoying than having to understand economics in American accent!!!! Gracias!!! Mel Argentina

[synergy8888]

hey thank you so much, really really helped haha got a test tomorrow and you just taught it better than my teacher, thanks again

[timlewis101]

resitting my AS Markets in Action paperafter an unexpected poor grade. Wish i had been told abut these videos before then. They are really helping me with understading. Just out of interest are you videos course specific? just that I am doing OCR economics and wouldn't want to start writting about stuff that i'm not supposed to know. Thanks!

[amesh1711]

you are a champion!!!!

[phoenixwildfire]

You have NO idea how much this has helped me understand positive externalities... I've been trying to get a handle on this for about a week- and now I get it!

THANK YOU!

[FluffyPhoenixs]

wonderful!! the best econ lecturer out there. come teach at adelaide university :D!!!

[maitrip2020]

understanding this got me A on my paper about education as a positive externalities :)

[pajholden]

@maitrip2020 Well done on the A - glad the vid helped you!

[zaqsofa]

fabulous performance!!

[stephowe]

Your videos are brilliant! saving my economics a level and might help me get that A I need to get into Cardiff Uni! Thanks so much!

I've spent hours reading through textbooks and revision guides, and that 10 minute video made more sense than all of the reading put together!

[512309]

Thanks for the tips, it was extremely useful, i am feeling really confident for my exam

Thanks sincerely x

[rajcricketmax1]

Where did you get that wig from, I want one.

JK just keep making really nice vids like this. Thanks a lot.

[ErebusTV]

Nice hair mate 

[theresurectionpro]

what about welfare gain?

how do you show that

[xoriyo]

seriously paj you should be considered for the Noble price. I thought my teacher about you and all we do in lessons is watch your videos you're a star or as we call you in our class PPE (Paj the positive externality)

[xXJ3niiXx]

Hi,

Im an AS student studying Economics, I really enjoy watching your videos I think they are very helpful and useful, I understand more from your videos than in class.

I would like to know if you have one which is about price Mechanism I am quite confused with this topic and if not then I think you should make one for all the people that needs it and has difficulties with it.

thanks =).

[Jaedke1]

Deriving utility without paying for it...I feel like such a free-rider..!!

[Romeowasbleeding1]

ha ha! I did not expect that ending! You're a good man for helping us all out!

[ajdebeer616]

you should be subsidized, know what i mean?

[ph4083]

I'm a grad student (MBA) and I must say - many of your videos have been so helpful - many times better explained than the explanation that I got from lecture. I sincerely thank you.

[kurdishboy94]

is the welfare loss the positive externalilty if not where is it on the graph coz they ask where it is in aqa economics a level exams in unit 1

[samymouici]

Thanks for the video it has really helped

[MrPlender]

Hahahaha funniest ending ever.

[MrBunnyLikesToDance]

Nice :)

[Zander242]

What this does not take into account is that the subsidizing of this one product or service will change the optimal private and social levels of all other services and products by the financing causing additional tax or inflation.

[Jadethedead]

Thanks so much =) .I have a eco exam tomorow and your videos have finally helped get these concepts through to me .

[musicholic01]

THIS WAS VERY HELPFUL!!!!i wish that was my lecturer!!!!!!=D

[Menacin]

You should drop more jokes at the end of your vids. Puts a smile on our faces.

LOL

[walkingsideways1]

Thanks so much for this great video!

[jamike89]

Hi , Excellent Job. Great Video.. Im in my final year at Uni and still use your videos as a guide..... Thank you so much..

Greetings from Australia

[crazycake93]

Thank u soo much1!!!!!

[AHamzahH]

If you sit my exam for me I'll buy you a pint and give you a tenner

[ichariley]

LOL love the ending. and sense of humour!

[vishnu994]

do u giv online tuitions ?

[pajholden]

@vishnu994 yes



[olsvc1]

How does it work? I need some ASAP. Thanks!

[AwahwahMusic]

@pajholden do you charge?

[123conundrum]

@vishnu994

Sarcasm is not easily recieved on the internet.... I hope you are sarcastic.

... mentally infeeble....

[abXLinden]

thank you so much

[sanju0202able]

tnk u sir.... u was soo great dt u expained da lesson soo clearly.... ad it ws nt borin tooo... and also u ws sooo sweet...... anaaaa...<3 tnkz

[szz1116]

thanks so much!

[pestss]

Your videos are under-watched!!!!!!!!!!!

[Rastin2002]

Thank you from Otago University in New Zealand!

[sheywo10]

I WISH you were my economics teacher,maybe i would'nt hate the subject soo much anyway thanks for all the videos, I might atleast pass my exam tomorow maybe. anyway THANKYOU times a million from Sydney Australia

[will109um]

no no no, thank you- you're a very good teacher- i understood it well, cheers.

[TheDoloReel]

You sir. Are infact the most awesome man on the planet

[abigailhmm]

Today's my class on externalities ! Thank you ! good job !

[mawarliza]

Dear Sir, I am from Malaysia, but currently in Germany doing my Health Economics Master degree. I really love all your videos!! I really need some explanation on Open Access Resources (like road congestion). How to fix them, by providing the toll or even constructing a new road to prevent road congestion. How to start with this?? Thanks!

[veriappelsiini]

Subsidies by the governement are problematic because it necessarily makes the economy inefficient.

You mentioned the health care and education as examples here so let me take them to further consideration as well.

When education is subsidiced it creates unemployed Masters/Doctors because of lack of work in their special fields (for example, subjects like the Asian folkloristics).

[nonalcoholicjin]

thank you :) you're the best!

[randomrainbow17]

Great, clear explanation! Very good example! Hahaha no offence but you really don't suit ginger.

[balaamsafe]

Thanks for these videos they are a really accesible source for when you just can't take any more of the textboox.

[ALisztomaniac]

Greetings from Canada :D

I've got a Gr.11 exam to right and these videos have helped me understand certain parts of economics.

Thanks for the help

[xXxAsHlEiGhLoUiSexXx]

without you i would've had no chance of doing well in my micro exam as i had never previously studied economics before uni. now i feel like i might actually have a chance! thankyou soooooooo much :)

[Closedcorners]

Hello sir. Its been a great help to me to study economics with so much ease. I really want to thank you wholeheartedly. Lots of prayers for you from Pakistan.

I would really wish if you upload videos for the A2 topic of national income and living standerds, paper solving for the AS and A2 economics. Regards.

Stay blessed. Mohammed Shahrukh.

[ratchettie]

YOU.ARE.THE.BEST.

simply.

[ratujr]

thanks clears a lot of things up...

[volonteer82]

I just want to say: You make Microecenomics so much easier to understand :)

[yiddos4lyf]

Top video. Thanks again

[dinothy]

you making these videos create big waves of positive externalities to economics students = )

[tmaloneh]

thanks alot, really helped!

[tmaloneh]

thank you very much, helped alot

[ramsey00m]

Its good to see your still making vidoes

[tugacosta]

the welfare loss is the deadweight loss?

[mrlaughalot]

hi. Im an AS level student studying economics. Your video was very helpful however i'm curious. I have been taught a different method. Instead this diagram uses A MPC=MSC curve upward sloping and then the MSB and MPB intersecting and the underproduction is shown by a similiar Quantity. I just want to make sure when it comes to it. You can illustrate an increase in production of these goods as easy.

[619kammy]

The example of paying higher taxes as social benefits only works if there is a progressive tax. I would say that getting an education contributes in increasing the total output of an economy as there are improved factors of production (labour). But great videos. The accelerator was really helpful as the textbook versions were a little bit complicated

[siameh02]

Tomorrow is my IB final, these videos are my revision, thanx to Pajholden

[pinkyshrimpy]

i really feel like i love you ! lol, you're saving me from failing with all your videos ! you should come to brazil and teach me :)

[TheLadyEmerald]

Thanks for posting this!

[weale1029384756]

whatever your getting paid, it isnt enough!

[menece2society4u1]

Thank you thank you thank you - my exam is tomorrow and this has really helped me thank you - keep up the awesome work - your work is bringing positive externality to my life thanks

[jaxattack90]

studying for econ finals! thanks so much taking the time out for making these videos! :)

[RTX94]

I hope you actually reply, or at least someone will...

I draw the diagrams using the demand and supply curves; showing two supply curves to illustrate how there's under-production of positive externalities.

Am I doing it wrong, is it NECESSARY that the curves be MSCand MSB?

[Gdsm9]

A couple of ideas for videos: Absolute and comparative advantages, monopolistic vs perfect competition, fiscal and monetary policies.

Cheers

[Gdsm9]

Honestly, you should never stop making these videos until you've covered every aspect in the entirety of economics. You explain these concepts far better than the professionals who get my tuition money!

[rumalmiah22]

Paj Holden is the man!!!

[cookdave]

This sounds like an argument for socialism to me, and I don't think that society benefits from having a load of costs forced upon them at gunpoint by the state.

Whenever the state has tried to implement their version of positive externalities it leads to corruption and sometimes collapse. The negative consequences of this vastly outwiegh any potential benefits.

[charlieboi2]

I can't find any videos of the Labour Market, namley MRP theory

[dunker98765]

thanks so much!! it was very helpful :D

[cishmish]

this guy taught me in 10 minutes what my teacher couldn't teach me over a month. THANKS! :)

[olsvc1]

I think the same... We need better teachers over here plsssss...

[cassandrakollakis]

this guy was my teacher!!!!!! never learnt much in class though

[n1234s]

Hi, I found that very useful, but I didnt quie understand why the MPB and MSB was downwards sloping? Other than that I found it really useful thank you!

[bigtimeglupek]

marginal is diminishing in its nature I guess, though it is a good question

[hammaerst]

"all of those external benefits" ---google audio analysis gives you "wolf what is the next battleground in the eyes" WHAT?? :D

[hammaerst]

"its what we get if we leave things to market forces" - googles new revolutionary translating app gives you "the small we get relief in somalia forces".... haha :D

[starsfan6878]

The crux here is at 3:07 -- "Let's assume that there are no external costs."  ====

If there are external costs -- e.g. opportunity costs b/c people & companies don't have the wealth taken from them by gov't to pay for the extra "social benefits" -- then you'd have to count that into your calculations before claiming that "the market failed." ====

Also, will the gov't use the wealth as efficiently? Might there be a relative loss of wealth to the country by channeling it through gov't?

[xhappyberryx]

OMG I ACTUALLY GET THIS NOW. i've been starin at my textbook for like 20 mins tryin to figure out what it's tryin to say. but yeah thanks a lot :D:D:D

[Parandaz]

thanxxxxxx it helped me alot :)

[tumloo]

great jobbbs

[buran225]

Brilliant, Mr. Holden! Very helpful. My econs teacher knows nearly nothing, and the book's description of the graphs is a bit too vague. This will really help me for my A level prep. Thanks again!

[tg43fly]

what happens if education is over subsidized, and theres a lack of lower level workers i.e. farmers, this problem is occuring in china where they're all going to find education. does that mean it gives a negative externality? does that mean the cost of education is agricultural/labour?

[Spielburg007]

Glad you're back!

[enotdetcelfer]

HAHAHA Assume there's no external societal COST?

Utter fail.

Of COURSE your graph is going to support your interventionist theory. You've removed the reasoning that you yourself described early on about consumption equilibrium. The social costs of government theft and monopoly is staggering on the intensives of the private individual, let alone the reallocation of immediate costs from the third party beneficiary (leach) to the healthcare provider that gets pawned off on the consumer. #facepalm

[enotdetcelfer]

@enotdetcelfer

*incentives... learn to spell

[fozziejosh]

Its a model! And just like any other economic model, it makes assumptions, but that by no means makes it wrong and it certainly doesn't make it unhelpful. What you're saying does, of course, hold some merit, but there's no need to be so critical on what is essentially a very useful aspect of economics!

I personally don't agree with your cynicism and believe instead that government intervention does indeed help reduce market failure in this respect, but that is just a matter of personal opinion.

[kennethlei57]

You saved my life in Economics class.

[flyingbeagles]

Oh darn! I labeled my graphs wrongly on my test! Instead of output, I used Quantity, darn! Thanks, I'll remember it now

[creatively100]

thanks paj for the vid, really looking forward to it :)

[dannidandannikins]

You are so god damn wrong it's unreal. The level of how wrong you are is not even to do with economics. You have failed on metaphysics and ethics.

[DjLukman]

and what has that to do with economic theories?