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[NOTE: Posted on behalf of Betsy Price -- RBE] 
 
As a follow-up to a comment made by Robin Neill regarding John Rae's 
awareness (1834) of the spill-over effects of imported technology as 
evidence of Rae's conceiving "externalities", I note that Alex Vicas 
(Economics, McGill University) wrote in his conclusion to a paper for a 
conference on Rae in 1996 in connection with Rae's interest in education 
and the acquisition of knowledge: "He continuously grapples with what 
would be called externalities today: with the question of justifying the 
legislator in acting where benefits from new knowledge or arts accrue to 
the community and in part are not captured by the one required to make 
sizable expenditures in their acquisition." 
 
B.B. Price 
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