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THE CORPORATION [4/23] Externalities

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Uploaded on Jan 23, 2007

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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...

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