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Not the OP, but this is straightforward: the market fails to price externalities. Costs are distorted and borne by others. You can regulate it, but if you have
by _jal 8y ago
Not the OP, but this is straightforward: the market fails to price externalities. Costs are distorted and borne by others. You can regulate it, but if you have sufficient control to price in all externalities and then do so, you are not talking about a 'free market' anymore.
And what is the role of democracy in regulating global public goods? How are you going to vote on environmental protections on other continents?
- merpnderp 8y agoJust because you add a few more rules to a free market doesn't cease to mean it is a free market. "How are you going to vote on environmental protections on other continents?" Trade negotiations? Or are you asking if invasion and war are an option, which they absolutely are not.