Robert Schuman Centre for Advanced Studies - European University Institute Schuman Shorts - Externalities | Thorsten Beck In the latest video in the Schuman Shorts series, FBF Director Thorsten Beck, explains what externalities are, why they are important and how impact policy-making. 26 July 2021 | Video Print Share on Facebook Share on X Share on LinkedIn Send by email "The fact that vaccines have societal benefits such as herd immunity that go beyond private ones, is a good reason to make them free for everyone." In the newest Schuman Short, Thorsten Beck, Director of the Florence School of Banking and Finance, uses the case of COVID-19 vaccines to offer examples of both positive and negative externalities, and how policy-makers must keep them in mind in order to develop policy that can effectively change people's behaviours. Watch the full video now on the Robert Schuman Centre YouTube Channel. Externalities | Thorsten Beck - Schuman Shorts #35 Last update: 26 January 2022