Examlex
What is meant by the term "internalizing an externality"? How does a Pigovian tax or subsidy internalize an externality?
Public School
In the United States, a school maintained at public expense for the education of the children of a community or district and obliged to provide a minimum standard of education.
Strict Scrutiny
The highest standard of review applied by courts when evaluating laws or policies that infringe on constitutionally protected freedoms, requiring a compelling state interest for such laws.
Compelling Government Interest
A legal standard that requires the government to have a strong and necessary reason for enacting laws that may affect constitutional rights.
Law
A system of rules that are created and enforced through social or governmental institutions to regulate behavior and maintain order in a society.
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