Another big economics principle that is not discussed often enough with respect to addressing the climate emergency and other environmental issues, though it is probably discussed a bit more often and widely than the other two I mentioned below.
The thing that gets me: a lot of the right-of-center political activists seem to think they are supporting free markets and stand-on-your-own-two-feet capitalistic principles in opposing carbon taxes and other efforts to address environmental issues, but they are doing the opposite. In a free market system, it is the government's assigned job to protect property rights, and if some competitors can simply do massive damage to property without paying a penalty, then this is not a properly administered lawful free market system.
[en.wikipedia.org]
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties'
activity. Externalities can be considered as unpriced goods involved in either consumer or producer market transactions. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All consumers are all made worse off by pollution but are not compensated by the market for this damage.
2
Enjoy being online again!
Welcome to the community of good people who base their values on evidence and appreciate civil discourse - the social network you will enjoy.Create your free account
Recent Visitors 8
Photos 49 More
Posted by kmazfrom a french artist, fabrien barrau
Posted by KilltheskyfairyPlease spend 3 minutes reading this note from William Shatner, the actor from Star Trek: “Last year, I had a life-changing experience at 90 years old.
Posted by KilltheskyfairyDon’t blame me! I voted for Gore! (and Kerry, and Clinton, etc.)
Posted by KilltheskyfairyDon’t blame me! I voted for Gore! (and Kerry, and Clinton, etc.)
Posted by AnonySchmooseAchieving Climate Change Mitigation in the Forest Sector | Frontiers Research Topic
Posted by AnonySchmooseVisualizing the Quantities of Climate Change – Climate Change: Vital Signs of the Planet
Posted by LetzGetReal In “Mermaid” BENJAMIN VON WONG created a scene using 10,000 donated USED plastic bottles then photographed it from overhead.
Posted by AnonySchmooseThe Search for Planet-Friendly Protein | Yes! Magazine
Posted by AnonySchmooseThe Search for Planet-Friendly Protein | Yes! Magazine
Posted by AnonySchmooseWill protecting 30 percent of Earth prevent the extinction crisis? | Science News
Posted by LetzGetRealHi ALL, Been away, lots to do in my real life community, plus family issues in the states were pressing.
Posted by Heidi68Truth from a boy and his tiger
Posted by Heidi68They knew at the beginning of the last century. Just think if we had listened & work toward change starting back then
Posted by JoeBUnexpectedly large herd of Elephants sighted in Borno State, .
Posted by MsAlIts been raining all winter here in Michigan and Im finding it hard to avoid politics by talking about the weather.
Posted by djs64Happy and sad.