Do you think the government has chosen the right solution to the problem of the positive externalities

Do you think the government has chosen the right solution to the problem of the positive externalities

Economics Question? 200 words
The government decided the positive externalities from education are so great, it should be an entitlement. Do you think the government has chosen the right solution to the problem of the positive externalities? Consider if there are other ways the government could have solved the market failure without directly providing education.
Business Law Question? 100 words
Bob Smith is a renowned “House Painter for the Stars.” His craft is well-known throughout Hollywood, he is in high demand, and he has limited his work to celebrity homes valued at $10 million or more.
Betty Bloop, a movie star, commands at least $20 million per film. Her net worth is rumored to be in excess of $100 million. Betty has secured Bob’s services to paint her new home nestled in the Hollywood. When completed, Betty’s new home will be worth an estimated $12 million.
Bob is extremely busy. He is currently painting three homes for three different movie stars. He would like to have his associates, Larry Incompetent and Mary Lazypants, perform the painting of Betty’s house. Larry is twenty-one years old and has three months of house painting experience, and Mary is twenty-seven and has four months of experience.
From a contractual standpoint, may Bob Smith have his associates, Larry Incompetent and Mary Lazypants, paint Betty Boop’s house? Would such an arrangement require Betty’s approval? Why or why not?

Do you think the government has chosen the right solution to the problem of the positive externalities

 

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Do you think the government has chosen the right solution to the problem of the positive externalities

Economics Question? 200 words
The government decided the positive externalities from education are so great, it should be an entitlement. Do you think the government has chosen the right solution to the problem of the positive externalities? Consider if there are other ways the government could have solved the market failure without directly providing education.
Business Law Question? 100 words
Bob Smith is a renowned “House Painter for the Stars.” His craft is well-known throughout Hollywood, he is in high demand, and he has limited his work to celebrity homes valued at $10 million or more.
Betty Bloop, a movie star, commands at least $20 million per film. Her net worth is rumored to be in excess of $100 million. Betty has secured Bob’s services to paint her new home nestled in the Hollywood. When completed, Betty’s new home will be worth an estimated $12 million.
Bob is extremely busy. He is currently painting three homes for three different movie stars. He would like to have his associates, Larry Incompetent and Mary Lazypants, perform the painting of Betty’s house. Larry is twenty-one years old and has three months of house painting experience, and Mary is twenty-seven and has four months of experience.
From a contractual standpoint, may Bob Smith have his associates, Larry Incompetent and Mary Lazypants, paint Betty Boop’s house? Would such an arrangement require Betty’s approval? Why or why not?

Do you think the government has chosen the right solution to the problem of the positive externalities