In the News
Market Failure - Scotland bans single-use plastic
5th January 2022
Scotland is adopting legislation to outlaw the use of single use plastics from summer 2022 covering items including food containers, presumably for deep fried Mars bars.
However, whilst ostensibly this is a good thing, and will reduce the economy's carbon emissions, is it necessarily good economics. Evaluating the policy will require assessment of the opportunity cost, risk of government failure and distributional issues associated with the intervention.
The intervention might encourage businesses to switch towards plant-based packaging. Will it also bring about a cultural behavioural change among customers?
You might also like
Obesity - A Global Economic Issue
24th December 2014
Markets are good, but we need clear signals
26th May 2015
Explaining the Price Mechanism
Topic Videos
Is work too easy? A new analysis on obesity
24th July 2017
Externalities & Market Failure (Quizlet Revision Activity)
Quizzes & Activities
How can we fund a Green New Deal?
28th November 2019