Mark Pennington
Professor of Political Economy
King’s College, University of London
Dr. Mark Pennington is Professor of Political Economy at King’s College, University of London. He is the author of Robust Political Economy: Classical Liberalism and the Future of Public Policy. He holds a PhD from the London School of Economics.
Videos
Externalities: Market Failure or Political Failure?
According to Prof. Mark Pennington, externalities occur when private actors impose costs on other actors without paying appropriate compensation. Economists often use externality problems, such as pollution, to make arguments…