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Topic: Social costs

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  Social cost - Wikipedia, the free encyclopedia
Social cost, in economics, is the total of all the costs associated with an economic activity.
Environmental pollution is an example of a social cost that is seldom borne completely by the polluter thereby creating a negative externality.
The ideas of social cost and externality are often used in welfare economics as an example of market failure and an argument for government action and against libertarianism.
en.wikipedia.org /wiki/Social_cost   (625 words)

 Social cost -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-11-06)
Social cost, in (The branch of social science that deals with the production and distribution and consumption of goods and services and their management) economics, is the total of all the (The total spent for goods or services including money and time and labor) costs associated with an economic activity.
The ideas of social cost and externality are often used in welfare economics as an example of market failure and an argument for (The organization that is the governing authority of a political unit) government action and against (An ideological belief in freedom of thought and speech) libertarianism.
But the existence of market failure is not really an argument for government intervention, since we must also consider the cost of government action and also the existence of alternatives to the government, such as the reliance on (An inherited pattern of thought or action) tradition or community democracy.
www.absoluteastronomy.com /encyclopedia/s/so/social_cost.htm   (711 words)

 social costs and benefits - Hutchinson encyclopedia article about social costs and benefits
These include private costs (the financial cost of production incurred by firms) and benefits (the profits made by firms and the value to people of consuming goods and services) and external costs and benefits (affecting those not directly involved in production or consumption); pollution is one of the external costs.
The external costs include the effects of any increased pollution as a result of the increased output, and the effects of increased unemployment, such as higher expenditure on unemployment benefits.
Transport policy provides another clear example of the need to take external costs and benefits into account, where increases in the demand for private road transport generate considerable external costs in the form of pollution, road repairs, and extra costs to firms using transport networks and to medical services as a result of traffic congestion.
encyclopedia.farlex.com /social+costs+and+benefits   (280 words)

 Social costs of smoking are triple those of illicit drugs -- Zinn 326 (7383): 242 -- BMJ   (Site not responding. Last check: 2007-11-06)
The financial impact of tobacco and alcohol far outweigh the impact of illicit drugs, with smoking costing the community almost three times as much as any other category of drug, according to a study on the social costs of drug use in Australia.
For the first time the cost calculations included an estimate of the impact of passive smoking and newly available data to assess the effect on the Australian population of absenteeism, drugs, ambulances, fires, crime, and even litter.
The report said the costs were all net costs and, consistent with previous studies, were estimated conservatively.
bmj.com /cgi/content/full/326/7383/242/a   (512 words)

 Transaction Costs and the Social Costs of Online Privacy   (Site not responding. Last check: 2007-11-06)
Problems in social cost can be understood by modeling the liabilities, transaction costs and property rights assigned to various economic agents within the system, and can be resolved by reallocating property rights and liability to different agents as needed to achieve economic equilibrium.
Social cost is a concept introduced by Coase in his landmark 1960 paper "The Problem of Social Cost" [7].
Instead, the cost created by the factory's consumption of clean air is passed on to the surrounding community in the form of pollution [15].
firstmonday.org /issues/issue6_5/sholtz/index.html   (9728 words)

 Administrative Costs for Social Security Private Accounts
Although reducing the size of government is a goal of some proponents of private accounts, administrative costs tend to be lower when the government establishes a bureaucracy that serves as a clearinghouse for contributions and as a record keeper for the accounts.
The costs of administering such a system would include the cost of maintaining a government clearinghouse for collecting contributions and for recordkeeping, the cost of mutual funds for investment management, the cost of providing annuities, and the extra cost of a voluntary carve-out as compared to a mandatory account.
The amount by which these costs would reduce benefits at retirement would depend on how long a person worked and the time path of his or her earnings, but a rough approximation would be about 12 percent, assuming a full career of work.
www.aarp.org /research/socialsecurity/reform/fs120_ss_costs   (1835 words)

 New Institutional Economics: Glossary
It has developed as a movement within the social sciences, especially economics and political science, that unites theoretical and empirical research examining the role of institutions in furthering or preventing economic growth.
They include the costs of defining and measuring resources or claims, the costs of utilizing and enforcing the rights specified, and the costs of information, negotiation, and enforcement.
Social capital is determined by a) the individual’s connections - whom he/she knows, and common group memberships, b) the strength of these ties, and c) the resources available to these various groups.
coase.org /nieglossary.htm   (1101 words)

 A Summary of the 2005 Annual Reports
Social Security's current annual cash surpluses will soon begin to decline and will be followed by deficits that begin to grow rapidly toward the end of the next decade as the baby boom generation retires.
Social Security could be brought into actuarial balance over the next 75 years in various ways, including an immediate increase of 15 percent in the amount of payroll taxes or an immediate reduction in benefits of 13 percent (or some combination of the two).
Social Security outgo amounted to 4.3 percent of GDP in 2004 and is projected to increase to 6.4 percent of GDP in 2079.
www.ssa.gov /OACT/TRSUM/trsummary.html   (5227 words)

 Paying Our Way: Estimating Marginal Social Costs of Freight Transportation
Some costs are borne initially by government, such as the cost of roads and ports that are built and operated by public agencies.
Other costs, called external costs, are borne by nonshippers or the general public; these include the health and other damages caused by air pollution and noise generated by trucks, towboats, and locomotives and the traffic delays and congestion that an additional truck or barge imposes on other users of roadways and waterways.
Social costs are all costs of the shipment, whether borne initially by the shipper, carrier, government, or public.
gulliver.trb.org /news/blurb_detail.asp?id=2677   (551 words)

 Social costs of gambling nearly half that of drug abuse, new book concludes
“In 2003 dollars, the cost to society of an additional pathological gambler is $10,330 based on studies performed in the mid-1990s, whereas the cost to society of an additional problem gambler is $2,945,” he wrote.
This means that the gaming industry’s profits are based on a relatively small number of addicted gamblers who run up huge costs to themselves, their families and society.
However activities that create more social harm than good, according to Grinols, “need to be regulated, monitored and in some cases altered or banned to achieve greater social well-being … The need for public intervention occurs precisely when the costs are borne by one agent or group and the benefits by another.”
www.news.uiuc.edu /news/04/0308grinols.html   (746 words)

 What is the difference between private and social costs, and how do they relate to pollution and production? (11/2002)
Social costs will differ from private costs, for example, if a producer can avoid the cost of air pollution control equipment allowing the firm's production to imposes costs (health or environmental degradation) on other parties that are adversely affected by the air pollution.
The social costs include all these private costs (fuel, oil, maintenance, insurance, depreciation, and operator's driving time) and also the cost experienced by people other than the operator who are exposed to the congestion and air pollution resulting from the use of the car.
When significant external costs are associated with a good (or service), then the price of the good is too low (because external costs are not being paid) and its output level is too high, relative to the socially efficient rate of output for the good.
www.frbsf.org /education/activities/drecon/2002/0211.html   (1186 words)

 Redefining Progress: Publications: The Roads Aren't Free   (Site not responding. Last check: 2007-11-06)
A private cost is one that involves only those directly involved in a transaction, such as the costs of operating a vehicle or access to roads, while social costs include the costs of pollution and congestion.
This paper estimates that the unrecognized private costs of driving amount to $59 billion annually (top cost: $40 billion for the costs of streets and highways not covered by fees and tolls) while social costs total $125 billion (top cost: $56 for health damage due to air pollution).
The basic finding of this report is that the social costs of driving amount to at least $184 billion per year--not including the $50 to $100 billion subsidy in free parking and or the cross-subsidy caused by congestion.
www.rprogress.org /publications/wpts3/wpts3_execsum.html   (1144 words)

 Researchers discuss full social costs of transportation at spring forum (TRG Study)
"Paying the full costs of transportation may have many benefits, but the costs may not be of a magnitude to change land use decisions significantly," said Gerard McCullough, director of CTS and one of the speakers in the "Research Forum on the Costs of Transportation" held on March 31.
Congestion costs are expected to grow by five percent per year, continuing a national trend that began in the 1980s.
Dwarfing this number, however, are safety (crash) costs, at $340 billion.
www.cts.umn.edu /trg/news/1999/fullcosts.html   (554 words)

 Online TDM Encyclopedia - Transportation Costs
Costs and benefits have a mirror image relationship: a cost can be defined as a reduction in benefits and a benefit can be defined as a reduction in costs.
Social costs are the total of both internal and external impacts.
Motorists tend to perceive immediate costs such as travel time, stress, parking fees, fuel, and transit fares, while costs that are paid infrequently, such as insurance, depreciation, maintenance, repairs and residential parking, are often underestimated.
www.vtpi.org /tdm/tdm66.htm   (1487 words)

 Summary for Policymakers: The Economic and Social Dimensions of Climate Change -IPCC Working Group III   (Site not responding. Last check: 2007-11-06)
Estimates of the costs and benefits of stabilizing greenhouse gas concentrations are sensitive, inter alia, to the ultimate target concentration, the emissions path toward this level, the discount rate, and assumptions concerning the costs and availability of technologies and practices.
Some studies suggest that the cost of delay is small; others emphasize that the costs could include imposition of risks on all parties (particularly the most vulnerable), greater utilization of limited atmospheric capacity and potential deferral of desirable technical development.
It must be emphasized that the social cost estimates have a wide range of uncertainty because of limited knowledge of impacts, uncertain future technological and socio­economic developments, and the possibility of catastrophic events or surprises.
www.ipcc.ch /pub/sarsum3.htm   (9508 words)

 ipedia.com: Externality Article   (Site not responding. Last check: 2007-11-06)
The social demand curve would reflect the benefit to society as a whole, while the normal demand curve reflects the benefit to consumers as individuals and is reflected as effective demand in the market.
The marginal private cost is less than the marginal social or public cost by the amount of the external cost, i.e., the cost of the smoking stacks and water pollution.
The problem is one of the disjuncture between marginal and social costs that is not solved by the free market.
www.ipedia.com /externality.html   (1858 words)

 ISSDS - Calculation of Administrative Costs for Social Protection Programs: A Guide and Interactive Spreadsheet   (Site not responding. Last check: 2007-11-06)
Today in Russian municipalities, it is common practice when calculating the cost of a social protection program only to include the actual benefit costs of that program.
This greatly hinders the ability of administrators to understand how efficiently they are administering their social protection programs and to plan for future budgetary or administrative changes.
Social assistance administrators from four cities actively participating in the USAID sponsored project, "Improving Social Service Delivery Systems in Russia" were consulted regarding their problems with determining total program costs for social assistance programs.
www.urban.org /centers/iac/pds/pdescrip.cfm?id=128   (361 words)

 J Stewart - Social costs   (Site not responding. Last check: 2007-11-06)
The survey collected data on social and demographic characteristics, drug use history, physical and mental health status, the use of health care and substance treatment services, drug use modality and sex-related risks of infectious diseases, sources of income, as well as criminality and involvement with the law enforcement system.
The annual social cost generated by this sample, calculated at Canadian $5.086 million, is explained mostly by crime victimization (44.6%) and law enforcement (42.4%), followed by productivity losses (7.0%) and the utilization of health care (6.1%).
Applying the $13,100 cost to the estimated 8,000 to 13,000 users and 2.456 million residents living in Toronto yields a range of social cost between $43 and $69 per capita.
socserv2.socsci.mcmaster.ca /jstewar/costs.html   (167 words)

 Let Us Count the Ways - Center for American Progress   (Site not responding. Last check: 2007-11-06)
Social Security privatization is once again on the front burner of the public policy discussion.
This is especially pronounced for women, who consequently face costs that are comparable to the costs of turning their savings into lifetime monthly benefits – annuities.
Social Security is the only way to reduce the labor market risks.
www.americanprogress.org /site/pp.asp?c=biJRJ8OVF&b=253499   (424 words)

 Rent Seeking and the Social Costs of Monopoly
Indeed, Posner argues that due to rent avoidance the social cost of monopoly may be high even for a monopolist earning only a normal return.
The cost of maintaining a monopoly may also be difficult to measure, for example an inefficient state monopoly may exist which would perform more efficiently if exposed to the rigours of the marketplace.
In such cases, the social cost of the rent seeking is virtually impossible to measure.
www.maths.tcd.ie /pub/econrev/ser/html/rent.html   (1912 words)

 Social cost at opensource encyclopedia   (Site not responding. Last check: 2007-11-06)
The socially optimum level of output is Qs where marginal social costs (MSC) is equal to marginal revenue (MR).
If the marginal social cost curve was below the marginal private cost curve, it would be a positive externality and social optimality would require a greater output than Qp rather than a reduction of output.
Faced with this cost increase, producers would reduce output to the socially optimum level (Qs) and the amount of the externality would be reduced.
wiki.tatet.com /Social_cost.html   (691 words)

 [No title]
Numerous "studies" purport to show that smokers are costing "society" amountswhich vary from 22 cents to $4.80 for each pack they smoke.
The study, by Professor Jean-Jacques Rosa, attacks the idea that smokingcreates "a considerable social cost." "Premature deaths of retired smokersbenefit society because the government no longer has to pay their socialsecurity benefits or their health-related expenses," the professor said.
Apart from being wrong as to fact, however, the social cost arguments dependon a dangerous proposition: that when society, through taxes or insurance,shares costs and spreads risks it thereby becomes entitled to regulate,control and even prohibit behaviors deemed "costly".
www.smokingsection.com /issues2.html   (2065 words)

 Baylor University || Public Relations || Weighing social costs: research on the consequences of casino gambling is ...
Grinols agreed that the measure of additional social costs should be reduced for places that have casinos within 50 miles.
He concluded that social costs and money local residents would lose gambling would outweigh the roughly $52 million in economic gain that jobs and the purchase of local goods and services would bring.
He said social gamblers would cost the county $42 million a year and county residents would lose a net $33 million a year at the casino that might have been spent on other entertainment or services in the county.
www.baylor.edu /pr/index.php?id=18439   (1262 words)

 Social Living – Costs and Benefits
The donor of an act pays an immediate cost to benefit the recipient, but the recipient then returns the favor at some future time.
The major general cost of being social is having to share food with members of the group.
In addition, a larger group may be a preferred target for a predator because of the greater overall chance that at least one group member is injured, weak, old, or otherwise easy to catch and kill.
life.bio.sunysb.edu /bio359/4_22_02.html   (2257 words)

 Social Costs of Tobacco, by Pierre Lemieux
The second issue – the balance between social benefits and social costs for "society as a whole" – is trickier.
Despite the many philosophical, methodological and measurement problems involved in summing up costs and benefits over all individuals in society, economic theory shows that a good freely bought and sold on the market generally brings more benefits than costs.
Economists, on the contrary, assume that an individual’s body belongs to himself, and exclude privately-assumed risks and costs from social costs.
www.pierrelemieux.org /artsocial.html   (682 words)

 Social costs: the effects of child maltreatment - Resource Sheet - National Child Protection Clearinghouse   (Site not responding. Last check: 2007-11-06)
It is generally considered that the emotional and social trauma experienced by the child constitutes the 'core issue' in all types of maltreatment (Kent and Waller, 1998).
In general, survivors of child maltreatment have been found to be at increased risk of hepatitis, diabetes, heart disease, cancer, stroke, are more likely to have surgery and are at increased risk of having one or more chronic pain symptoms (Kendall-Tackett, 2002).
It is generally considered that these health problems are the result of a complex interaction of the psychological, behavioural and social harms associated with maltreatment (Kendall- Tackett, 2002).
www.aifs.gov.au /nch/sheets/rs9.html   (2066 words)

 Navasky, Naming Names: Social Costs of McCarthyism   (Site not responding. Last check: 2007-11-06)
The social costs of what came to be called McCarthyism have yet to be computed.
Even if it were possible to disentangle the effects of the various elements in the McCarthy period--the informer system, Hollywood division, the fllist system, the congressional investigations, the larger repression, the international cold war--the prospect of quantifying the social cost of any one of them is overwhelming.
Nevertheless, since institutions were transformed, content influenced, individuals injured, and vast public and private resources expended, it seems important to try separately to trace the effect of the informer alone, without whom the fllist and many other aspects of the purge would not have been possible.
www.english.upenn.edu /~afilreis/50s/navasky-social-costs.html   (1944 words)

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