Externalities: When Is a Potato Chip Not Just a Potato Chip?

Duke professor Michael Munger and LearnLiberty come together in this wonderful and short video about externalities and Pigouvian taxes (h/t Cafe Hayek):

This past semester I was fortunate to attend lectures by Professor Munger on two different occasions. His humor and knowledge of economic history, highlighted toward the end of the video, make his presentations especially enlightening and entertaining. If you have the opportunity to hear him speak in the future, I highly recommend the experience.