What are externalities in economics?

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2026-05-21 19:24:44 -

What Are Externalities in Economics? The first time I understood externalities, I was standing beside a river that looked alive and dead at once. It was in northern California after a season of hard rain. The water moved with muscular force, carrying branches, leaves, fragments of hillsides. Yet the river smelled faintly metallic. A paper mill upstream had been discharging waste for...

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