>We already know how to deal with negative externalities such as pollution. Evaluate how much it costs society and tax it accordingly. I don't understand this,

>We already know how to deal with negative externalities such as pollution. Evaluate how much it costs society and tax it accordingly. I don't understand this, can it not be the case that the companies can 'afford' to keep polluting, even if paying the tax? Especially if pollution "cost on society" is relatively constant or not increasing according to profit. How is this cost on society determined, and what if I think that the cost is too high, even for taxation to deal with it? This seems like a band aid on one of the problems inherent with the profit motive.