THE CORPORATION [4/23] Externalities

4. What is an externality? Milton Friedman describes it as the effect of a transaction between two parties on a third party who is not involved in the transaction. A technical
sounding term that basically means let somebody else deal with the problems the corporation creates.

For a playlist of all 23 chapters in order: http://www.youtube.com/view_play_list?p=FA50FBC214A6CE87

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[45erwx7]

Love the movie but I think it's cut up a bit much ( have to keep clicking next video after like 3 minutes.)

[Zeitgeist28]

And most importantly: A more responsible economy and also more responsible and thoughtful customers.

Sadly, in todays time, we seem to define freedom, only as the freedom to buy as many products we want and to travel everywhere we want. If everyone would realize, that overboard consumption, will inevitably destroy the economy in the long run, i guess we would be able to change our way we do economy.

[DNoolan]

Boo hoo, corporations aren't giving away money to poor people. Why should they? Corporations work for profit, it's government's job to ensure that in the grand scheme of things it all works out well. And governments have many ways to control corporations.

[iiNDiTC]

das Kapital!

[qwertypluss]

@EducatedRebellion101 "every president in history has been pimped by the royalty of England." BULLSHIT, ABSOLUTE BULSSHIT!

[OffTheGlass87]

@EducatedRebellion101

U are totally wrong. Bar does not stand for british accredited registry. You just made this up. Another liberal piece of nonsense. It does not exist. British Accredited Registry? LMAO.

It got 19 thumbs up. LOL, what liberal moon bats that have no idea of reality. Good job morons, obama probably get elected again because of you bums. Gimme this, gimme that, fuck you!

[KateMathewsMezzo]

A Bank of America advertisement on this video??? Why are there even ads here?

[vortexsurferrosa]

@EducatedRebellion101 What nonsense :) "bar" is just a word that also ment the railing that divided the court between the front and the back. The whole acronym-theory is just some fantasy of those typical American paranoiacs. Really, get a look in some real dictionary!

[StevenSilverman]

There is little mention of positive externalities here which are also important - a corporation can create jobs in a local economy, historically whole urban centres have developed around corporations (in Britain, this freed people from serfdom albeit bringing new problems). Also, a corporation may seek to externalize costs but a more sustainable, and ultimately more successful policy, would be to reduce costs as a whole (e.g. through efficient energy use).

[imtweetydiva29]

@EducatedRebellion101 Thank you so much for the important info on the meaning of B.A.R exam I never knew. I also have learned we own no property there is tax attached to each parcel of land in the United States debt owed to The King of Engalnd .