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Externalities

Capitalism uses the concept of externalities to ignore and/or hide the actual costs of any business project.  This posits those costs onto an outside (unstated) agent–usually to be discovered as costs to be born by the rest of the world.  It is time to stop this practice and require actual costs to be accounted for by the people who create them.  Environmental costs, health costs, stolen profits, political costs, job losses:  all are dismissed with impunity.  They are not minimal and thus ought not to be ignored.  They are not actually external to anything but the limited liability of the corporation that creates them.

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2 thoughts on “Externalities

  1. “Capitalism uses the concept of externalities to ignore and/or hide the actual costs of any business project.”
    So, totalitarian regimes are paradigms of honest accounting, right? That’s probably why they survived capitalism, yes?
    Don’t you have any access to books, Sir?

    • The mere fact that I state capitalism uses the concept of externalties in a dishonest way does not make any comment on totalitarianism at all. Do you not think before you react, Sir! Your logic, or lack thereof, is exactly what the totalitarian uses as justification for oppression. If the “other” is wrong, I must be right. Sorry, but no cigar–Cuban or otherwise.

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