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What are externalities in economics?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...0 Σχόλια 0 Μοιράστηκε 1χλμ. Views 0 Προεπισκόπηση
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What is pollution in economic terms?What Is Pollution in Economic Terms? There is a habit in modern economics of describing the living world as though it were a rounding error. A forest becomes “timber inventory.” A river becomes a “resource input.” A child with asthma near a refinery becomes an “externality.” The language itself performs a kind of laundering. Smoke leaves a stack, enters...0 Σχόλια 0 Μοιράστηκε 2χλμ. Views 0 Προεπισκόπηση