Labelling externalities costs in the traditional sense is misleading. By the same logic one could argue that the "real cost" of meat-production isn't borne by t

Labelling externalities costs in the traditional sense is misleading. By the same logic one could argue that the "real cost" of meat-production isn't borne by the buyers or sellers of meat, but by the moral-vegetarians whose conscience the process bothers. Similarly, just because Pepsi has billboards and I prefer Coke, doesn't mean I would say Pepsi existing delivers a cost to my time. Misleading products on the other hand are different, (when the offer isn't genuine), but spam does not necessarily mean fraud.