Property use and externality mgmt are strong cases for govt

An externality is when I make a trade with you, but it has some accidental effect on other people who weren’t involved in the trade. Suppose for example that I sell my house to an amateur wasp farmer. Only he’s not a very good wasp farmer, so his wasps usually get loose and sting people all over the… from http://amzn.com/k/MWLDFqclRGSEnyaLH58ewQ

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