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Grist: The notion of "externalities" has become familiar in environmental circles. It refers to costs imposed by businesses that are not paid for by those businesses. For instance, industrial processes can put pollutants in the air that increase public health costs, but the public, not the polluting businesses, picks up the tab. In this way, businesses privatize profits and publicize costs.
While the notion is incredibly useful, especially in folding ecological concerns into economics, I`ve always had......
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None of the world’s top industries would be profitable if they paid for the natural capital they use
Posted by Grist: David Roberts on April 17th, 2013
Posted in Water Conservation