My new Forbes article takes on what Ebenezer Scrooge got wrong about population economics. In this spirit, I offer the following, from my Econ 100 final exam. If I may, this might very well be the perfect liberal arts college economics exam question:
Bald Eagles are currently endangered. Suppose the government passes a law allowing Bald Eagles to be owned privately, raised on farms, and eaten. A few months later, you go to Buffalo Wild Wings with your friends Glaucon and Thrasymachus to watch a Mixed Martial Arts pay-per-view and discuss the social merits and demerits of televised professional violence. Glaucon notices that the restaurant is running a special to introduce two new products: Bald Eagle Wings and Eagle Tenders. He is appalled and claims that this will hasten the extinction of the majestic Bald Eagle. In light of what you have learned this semester, evaluate Glaucon’s objection.