To What Extent Is the Following Statement, by Thomas Jefferson

question 67

Short Answer

To what extent is the following statement, by Thomas Jefferson, true; "the town meeting was the best school of political liberty the world ever saw."

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Definitions:

Externalities

Economic side effects or consequences of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved.

Internalized

The process of incorporating external costs or benefits into the market price of goods or services.

Efficient

Refers to a situation where resources are utilized in the best possible manner to produce desired outcomes without wasting materials, energy, or time.

Government Intervention

Actions taken by a government to influence or regulate different aspects of its economy.