#ASMIC
7.7K views | +0 today
Follow
 
Scooped by Phil Hensman
onto #ASMIC
Scoop.it!

Negative externalities in consumption, public goods and Derby coming out badly? Economics doesn't get any better... Derby sewers 'worst for fatbergs'

Negative externalities in consumption, public goods and Derby coming out badly? Economics doesn't get any better... Derby sewers 'worst for fatbergs' | #ASMIC | Scoop.it
Derby is named as having the most blocked and fat-clogged sewers among towns and cities in the East Midlands.
more...
No comment yet.
#ASMIC
Unit 1 Economics AS Level
Curated by Phil Hensman
Your new post is loading...
Your new post is loading...
Scooped by Phil Hensman
Scoop.it!

Rise in fly tipping blamed on Leicestershire County Council decision to cut tip opening hours

Rise in fly tipping blamed on Leicestershire County Council decision to cut tip opening hours | #ASMIC | Scoop.it
County Hall has been blamed for an increase of fly tipping in rural areas.

Figures show illicit dumping has soared across the 230 square miles of Harborough district.

Sinc
Phil Hensman's insight:
Government Failure
more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

7m Americans At Risk From Man-Made Earthquakes

7m Americans At Risk From Man-Made Earthquakes | #ASMIC | Scoop.it
A USGS report says Oklahoma, Kansas, Texas, Colorado, New Mexico and Arkansas have the highest chance of quake damage in 2016.
Phil Hensman's insight:
Negative Externalities in Production
more...
Bruce Fellowes's curator insight, March 30, 7:05 AM
Negative Externalities in Production - Fracking being the main cause
Scooped by Phil Hensman
Scoop.it!

More than 600m illicit cigarettes seized by HMRC in six months

More than 600m illicit cigarettes seized by HMRC in six months | #ASMIC | Scoop.it
Between April and September 2015, hundreds of millions of cigarettes and 137 tonnes of hand-rolling tobacco worth £232m in unpaid duty found
Phil Hensman's insight:
The problems of over-taxation, black markets..
more...
Bruce Fellowes's curator insight, March 7, 6:22 AM
The problems of over-taxation, black markets..
Scooped by Phil Hensman
Scoop.it!

India introduces car sales tax to combat pollution

India introduces car sales tax to combat pollution | #ASMIC | Scoop.it
Finance minister Arun Jaitley imposes levy of up to 4% on new passenger vehicles as part of his annual union budget
Phil Hensman's insight:
Using tax to reduce negative externalities
more...
Bruce Fellowes's curator insight, March 2, 3:31 AM
Using tax to reduce negative externalities
jon inge's curator insight, March 10, 5:13 PM
Using tax to reduce negative externalities
Bruce Fellowes's curator insight, March 11, 3:28 AM
Using tax to reduce negative externalities
Scooped by Phil Hensman
Scoop.it!

COP21: Climate change deal's winners and losers - BBC News

COP21: Climate change deal's winners and losers - BBC News | #ASMIC | Scoop.it
Matt McGrath takes a look at some of the winners and losers in the climate deal.
Phil Hensman's insight:

Evaluation of impacts on different groups

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

UK manufacturing will continue to suffer in 2016, warns BCC

UK manufacturing will continue to suffer in 2016, warns BCC | #ASMIC | Scoop.it
British Chambers of Commerce says sector ‘close to stagnation’ after domestic and export sales fall to below pre-recession levels
Phil Hensman's insight:

The effects of globalisation on the UK

more...
Phil Hensman's curator insight, January 7, 3:41 AM

Effects of Globalisation on the UK economy

Scooped by Phil Hensman
Scoop.it!

Train fares in Britain to rise by average of 1.1%

Train fares in Britain to rise by average of 1.1% | #ASMIC | Scoop.it
Campaigners say passengers will be ‘amazed’ at fare rises due to poor running of services in parts of the country
Phil Hensman's insight:

Regulation of price inelastic fares, but not price elastic.... Great evaluation of intervention

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Street lamps tackle dengue by luring mosquitoes with fake human scent | Carla Kweifio-Okai

Street lamps tackle dengue by luring mosquitoes with fake human scent | Carla Kweifio-Okai | #ASMIC | Scoop.it
LED light designed at University of Malaya is powered by solar and wind, and can work even in flooded areas
Phil Hensman's insight:

Positive Externalities in Production: Who is the third party, not involved in consumption or production, who is benefiting?

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Paw Patrol: no job is too big for parents on the trail of this Christmas must-have toy

Paw Patrol: no job is too big for parents on the trail of this Christmas must-have toy | #ASMIC | Scoop.it
It is the surprise sell-out gift for 2015, driving shoppers to either spend big abroad or disappoint their kids come 25 December
Phil Hensman's insight:

Excess Demand

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Ban Junk Food Ads And Tax Sugary Drinks - MPs

Ban Junk Food Ads And Tax Sugary Drinks - MPs | #ASMIC | Scoop.it
A tougher approach is needed to tackle the "wholly unacceptable" childhood obesity problem, the Commons health committee says.
Phil Hensman's insight:

Externalities, regulation, taxation, demerit goods

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Italy: Town pays people to cycle to work - BBC News

Italy: Town pays people to cycle to work - BBC News | #ASMIC | Scoop.it
Italian town is offering hundreds of euros per year to people who get on their bikes.
Phil Hensman's insight:

Promoting merit goods, discouraging demerit goods

more...
Dan Martin's curator insight, November 22, 2015 3:24 PM

Might be useful in the next couple of weeks I think!

K's curator insight, November 26, 2015 2:52 PM
A positive externality in the consumption of bicycles and bicycle related products in this Italian town, following the council paying people to cycle to work, is that there will be less air pollution meaning less global warming and respiratory problems from pollution for people living there.
Scooped by Phil Hensman
Scoop.it!

From football to steel, we don’t have to be slaves to the market | Will Hutton

From football to steel, we don’t have to be slaves to the market | Will Hutton | #ASMIC | Scoop.it
There is no need for the laws of supply and demand to destroy our industries
Phil Hensman's insight:

Market System, Rationing, Signalling, Incentives

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Lego factories hit brick wall as Christmas worries build

Lego factories hit brick wall as Christmas worries build | #ASMIC | Scoop.it
‘We will not be able to deliver all customers’ orders in the remainder of the year,’ says toy company spokesman, after ‘extraordinary’ surge in demand
Phil Hensman's insight:

Excess demand, inelastic PES 

more...
K's curator insight, November 13, 2015 4:09 AM
The market should be using more resources than it is currently as their current productive capacity means they cannot meet demand. Lego should follow a policy of increasing their productive capacity by building new factories in a shorter space of time, as the new factories being built will not be ready until after next Christmas.
Mr Jones's curator insight, November 15, 2015 12:21 PM

This is not a good news story as far as anyone planning to buy Lego this Christmas. It's certainly true that in the short term markets may not be able to respond to quick changes in circumstances.  In this case the problem seems to lie within the Lego business itself and it's difficult to think that any government action could make much of a difference.

Jane Li's curator insight, November 18, 2015 5:33 PM
Since there's a huge demand for Lego toys, and especially during Christmas, the Lego company can't really let every consumer satisfied. This means that the demand of toys is much larger than the supply of toys. In order to maximise the welfare of the company, in my point of view, the company should I add more economic resources in. For example, the company can buy more equipment which will help them produce more toys per period of time. Or, the company can also build more factories over the world to increase the quantity of supply.
Scooped by Phil Hensman
Scoop.it!

Countries' Safe Alcohol Guidelines Confusing

Countries' Safe Alcohol Guidelines Confusing | #ASMIC | Scoop.it
The World Health Organisation says a standard drink contains 10g of alcohol - but many countries have their own version.
Phil Hensman's insight:
Demerit goods over consumed due to information failure, but is the correct information available?
more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Legalising Cannabis 'Could Raise £1bn In Tax'

Legalising Cannabis 'Could Raise £1bn In Tax' | #ASMIC | Scoop.it
The Lib Dems claim prohibition puts the health of cannabis users at risk, as dealers may encourage them to try riskier drugs.
Phil Hensman's insight:
Hypothecation of tax? Regulating a market, but what are the downsides?
more...
jon inge's curator insight, March 10, 5:13 PM
Hypothecation of tax? Regulating a market, but what are the downsides?
Bruce Fellowes's curator insight, March 11, 3:28 AM
Hypothecation of tax? Regulating a market, but what are the downsides?
Scooped by Phil Hensman
Scoop.it!

Solar power lobby warns of subsidy cuts threat to jobs - BBC News

Solar power lobby warns of subsidy cuts threat to jobs - BBC News | #ASMIC | Scoop.it
Hundreds of solar power jobs have been lost owing to planned cuts to subsidies, according to a survey that suggests thousands more jobs could be at risk industry-wide.
Phil Hensman's insight:
When subsidies are cut, or taxes are increased, and production is cut, there are consequences...
more...
Bruce Fellowes's curator insight, March 4, 3:20 AM
When subsidies are cut, or taxes are increased, and production is cut, there are consequences...
Scooped by Phil Hensman
Scoop.it!

Plastic bag maker goes bust 'due to 5p charge' - BBC News

Plastic bag maker goes bust 'due to 5p charge' - BBC News | #ASMIC | Scoop.it
The introduction of a 5p charge for plastic bags in England is blamed for a Lancashire packaging firm going into administration.
Phil Hensman's insight:
Unintended consequences of government policies.... If you reduce the production of goods with negative externalities, people are put out of work
more...
Bruce Fellowes's curator insight, March 2, 3:31 AM
Unintended consequences of government policies.... If you reduce the production of goods with negative externalities, people are put out of work
Scooped by Phil Hensman
Scoop.it!

New York City brings in salt warnings on menus to tackle heart disease

New York City brings in salt warnings on menus to tackle heart disease | #ASMIC | Scoop.it
Chain restaurants in NYC will be forced to show customers which dishes contain more than one teaspoon of salt in the city’s latest public health drive
Phil Hensman's insight:

Tackling information failure with demerit goods

more...
Graham Watson's curator insight, January 7, 4:19 AM

Courtesy of Phil Hensman - thank you, sir - more on the provision of better quality information potentially reducing the negative externalities associated with poor eating habits. If you improve information, in theory, efficiency increases.

 

But what's the opportunity cost? And is there any evidence that consumers lack information in this regard? In which case, is government failure likely?

Mr Jones's curator insight, January 13, 7:16 AM

Tax or inprove public information?  Always an issue when considering any food story that may have external costs associated.

Scooped by Phil Hensman
Scoop.it!

5p charge on supermarket bags has immediate effect on cleaning up city environment

5p charge on supermarket bags has immediate effect on cleaning up city environment | #ASMIC | Scoop.it
The 5p charge on supermarket plastic bags has had an immediate effect on cleaning up the city's environment.

Before the charge was introduced in early October thousands of bags a year had to be...
Phil Hensman's insight:

Negative externalities in consumption virtually wiped out, with minimal cost

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

'Selfish' Litterbugs To Face New £150 Penalty

'Selfish' Litterbugs To Face New £150 Penalty | #ASMIC | Scoop.it
Fines for offenders who drop rubbish are set to double, as the public is urged to challenge those found littering.
Phil Hensman's insight:

Third party costs, negative externalities in consumption

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Milan Bans Private Cars To Tackle Smog Problem

Milan Bans Private Cars To Tackle Smog Problem | #ASMIC | Scoop.it
Pollution levels in a number of Italian cities are refusing to drop because of a lack of rain and low winds in recent days.
Phil Hensman's insight:

NEP, NEC - How to deal with pollution

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

#EveryLineCounts campaign: Cocaine users urged to consider impact - BBC News

#EveryLineCounts campaign: Cocaine users urged to consider impact - BBC News | #ASMIC | Scoop.it
A UK campaign to highlight the harm caused by the production and distribution of cocaine is launched by the National Crime Agency.
Phil Hensman's insight:

Overconsumed due to information failure on the true costs to society, here is that information, will it work?

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Mapped: Where is air pollution killing the most people?

Mapped: Where is air pollution killing the most people? | #ASMIC | Scoop.it
Air pollution breaches EU safety limits in several parts of the country - but where is it causing the most deaths?
Phil Hensman's insight:

Negative externalities in production

more...
K's curator insight, November 26, 2015 2:50 PM
Production (and consumption of petrol etc as fuel for cars) is resulting in air pollution which has negative externalities such as killing people in big cities across the UK, especially in England.
Jane Li's comment, December 22, 2015 5:45 AM
Negative externalities in production
Scooped by Phil Hensman
Scoop.it!

Processed Meats Do Cause Cancer - WHO, World Business Report - BBC World Service

Processed Meats Do Cause Cancer - WHO, World Business Report - BBC World Service | #ASMIC | Scoop.it
We consider the impact this health warning might have on the global meat industry.
Phil Hensman's insight:

Effects on demand

more...
No comment yet.
Scooped by Phil Hensman
Scoop.it!

Restaurant chains criticised over children's menus and soda refills

Restaurant chains criticised over children's menus and soda refills | #ASMIC | Scoop.it
Soil Association says menus dominated by chips, burgers and fizzy drinks that can be topped up make it almost impossible to choose healthy food
more...
Natasha's curator insight, November 15, 2015 9:43 AM
At present, the restaurant market is using more economic resources by offering free refills of fizzy drinks, by not offering free refills less resources can be used. The benefit that can be gained by this is that there will be a reduction in tooth decay as fizzy drinks contain a lot of sugar. If there are no free refills parents are less likely to pay for any more drinks. The restaurants should alter the resources being used to produce unhealthy foods to produce more healthy food options. If they reduce the supply of unhealthy foods, it means child obesity will be less prevalent than it is at present. The government should enforce a sugar tax on fizzy drinks and also tax unhealthy foods. This should reduce demand on these goods as tax added will increase the price of the goods and less people are willing to pay more. This should not only help with the obesity problem but also tooth decay problem in this country.