Part 6: Government in the Market Economy
In Chapter 16 , we have changed the way we explain and illustrate
externalities. Rather than doing it only on the “cost side,” we now talk
about negative externalities as events that have external costs and
positive externalities as things that generate external benefits; as a result,
our basic figure on externalities has been modified. In Chapter 17 , we
have clarified and updated the discussion of both the international
negotiation process and the various pricing policies used in Canada to
address climate change. Chapter 18 has been fully updated with the
new tax and social policies introduced by the new federal government.