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> Regulation is one possible response to externalities, but externalities don't fundamentally involve radiation. The only realistic ways to handle externalitie
by Analemma_ 8y ago
> Regulation is one possible response to externalities, but externalities don't fundamentally involve radiation.
The only realistic ways to handle externalities are regulations, class-action lawsuits, and (Pigouvian) taxes. Laissez-faire market types typically oppose all three.
- dllthomas 8y agoFor a sufficiently small externality, "ignore it" is a perfectly valid option. I think that's uncontroversial, although there would be substantial disagreement on the actual threshold.
- ggm 8y agoWould you call the worldwide systemic crisis in waste stream management precipitated by China tightening regulation as an instance of For a sufficiently small externality, "ignore it" is a perfectly valid option because personally I wouldn't.
- dllthomas 8y agoWould you call it a fundamental feature of an externality?
- deleted 8y ago[deleted]