On Externalities

Okay, so externalities arise when there is some cost or benefit not taken into account by consumers/firms, resulting in a given thing being over/under demanded/supplied, compared to the socially optimal level.

Nice and Basic.

Which is handy, because it's 23:27PM on the day of my last exams, and I can't really be bothered to think about this argument a great deal:

Okay, so I went to Woking, to have dinner with Harri, which was, predictably, lovely. Subsequent to this, I came home on the train, getting the 21:08 from Guildford to Clapham, and then the 21:58 from Clapham to Reading, via everywhere in the entire world. I understand, that because some people live in the arse end of nowhere, like Earley, or Winnersh Triangle, or Dorking Deepdene, or wherever, it is necessary for train companies to run trains there at all hours of the day and night. However, the people choosing to live there fail to take into account the fact that they delay a train journey about thirty miles a 80 minute trek, stopping every 15 seconds at some backward hellhole in the middle of Surrey. 

I therefore propose that we charge people a premium for buying a house in the countryside, equal to the amount of time lost by regular city-types like me, valued at the wage rate of the people being inconvenienced. Broadly, since people in cities earn more than people in the country, particularly if the people in the cities and towns are commuters, I reckon this would finish off rural living once and for all.

Good riddance, maybe it won't take me eight years to get to Brighton.