Quotes About External costs

If it turns out that global warming and ocean acidification are consequences of capitalism's carbon-based energy system, the entire world could end up dead from the external costs of capitalism.

The biggest tab the public picks up for fossil fuels has to do with what economists call 'external costs,' like the health effects of air and water pollution.

The biggest tab the public picks up for fossil fuels has to do with what economists call 'external costs ' like the health effects of air and water pollution.

Economic externalities are framed—thanks to their very name—as a peripheral concern in mainstream theory.

Among the greatest external costs imposed in a society can be those imposed politically by legislators and officials who pay no costs whatever, while imposing billions of dollars in costs on others, in order to respond to political pressures from advocates of particular interests or ideologies.

Economists have a term for these costs—a less reassuring one than Friedman's "neighborhood effects." They are "negative externalities": negative because they aren't beneficial and external because they fall outside the market system. Those who find this hard to accept attack the messenger, which is science.