Shahid Monametsi
I actually really enjoyed reading this chapter because despite focusing on the practical human greed aspect of business and economics I find it refreshing to also read about the social effects business have/ must uphold. I know that extrenalities are dealt with for the purpose of furthering profit and all, however I think that this is a very important for those who actually want to go into this discipline to understand that there are consequences for all actions and I think that this is one of those lessons.
Despite finding most of this section to be common sense I did not actually know that there was such a thing as positive of extrenalities. The concept was easy but it seemed as though extrenalities only had a negative connotation. The Coase's Theorem is also relatively new to me however I found that this was really just a way of talking about settling disputes, which is the chapter in its entirety.
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