MGSC05H3 Lecture 8: lecture 8
Document Summary
If something that happens when somebody is dead, can it have an effect on their life. Issue of reparations for japanese-canadians; they were interned, property was confiscated and they were placed into internment camps ; after world war 2 there were no apologies or amends made for this. Late 80"s government t ried to right this wrong, and when they met with this community, they said the individuals should get money rather than the community. In this situation they were giving a group remedy to individuals. Past wrongs can still be corrected through memorials, history classes, etc. Bringing the pollutee (entity being polluted) into the market. Creating private property rights, and letting the market handle the issue of pollution that results. Tragedy of commons: when things are publicly owned they will get degraded and the only way to prevent this is to privatize it www. notesolution. com. Principle of investment should be enough to prevent the owner from degrading it.