Notes on Chapter 13
Another chapter with a lecture in it. How else would you know that it's me? As this is the last chapter, I wanted to end with an uplifting message. I also wanted to say that there are things each of us can do that would make America better. Of course, as an economist/social scientist, I am well aware of the 'free rider' problem. It really will only matter in aggregate if a good fraction of the overall population will do these things. And if the things are costly to do, then there is incentive for each individual to avoid doing them. The individual incurs the cost and one person's behavior won't impact the aggregate in a large population. This is very much like the 'paradox of voting' which we have partially overcome but certainly not fully. I thought the analogy with forming a new habit was useful, because that is the way this better behavior can be sustained. I must say, there are reasons to be pessimistic about all of this. Even though I...