3 ms·

As the article indicates, the problem is not necessarily technological but economic; trying to find a market-based solution to a notable market failure might be

As the article indicates, the problem is not necessarily technological but economic; trying to find a market-based solution to a notable market failure might be a sign of a pathology of our times.

zukzuk 7y ago
https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248/ https://www.penguinrandomhouse.com/books/539747/winners-take... Great book on this very topic!
WalterBright 7y ago
The solution to "internalizing the externalities", which is the economic jargon for such, is to tax it. If you want more of something, subsidize it. If you want less, tax it. Governments are good at taxing things. Taxing it aligns the economic incentives to produce the desired outcome, rather than banning it which leads to all sorts of distorted outcomes.
- onemoresoop 7y ago
  More and more countries are banning certain uses of plastics such as plastic bags and one time use plastics. Do you think that’s gonna have a distorted economic outcome? I think we could step out of the economic bubble sometimes and do things that are good for the environment - without which there would be no economic activity possible.
  - WalterBright 7y ago
    > Do you think that’s gonna have a distorted economic outcome? Yes. Typically, such laws embed exceptions. But the exception list is always inaccurate. For an example, when the EPA set fuel economy standards for cars, it exempted trucks. The station wagon disappeared and was replaced with the SUV, which was a "station wagon" configured to pass the EPA definition of a truck. Instead of banning plastics and having an ever-wrong list of exemptions, raise the price (via taxation) so other materials become cost effective.
- dmclamb 7y ago
  This. How about a "plastics management" tax every company must pay based on the amount of plastic each of their products uses, including manufacturing, shipping, etc. That, or ship all plastic waste back to the company who made it to manage. When I walk into a store these days, I can't help but think almost everything there will end up in a landfill or the bottom of the ocean.

As the article indicates, the problem is not necessarily technological but economic; trying to find a market-based solution to a notable market failure might be a sign of a pathology of our times.

zukzuk 7y ago

https://www.penguinrandomhouse.com/books/539747/winners-take-all-by-anand-giridharadas/9780451493248/ https://www.penguinrandomhouse.com/books/539747/winners-take... Great book on this very topic!

WalterBright 7y ago

The solution to "internalizing the externalities", which is the economic jargon for such, is to tax it. If you want more of something, subsidize it. If you want less, tax it. Governments are good at taxing things. Taxing it aligns the economic incentives to produce the desired outcome, rather than banning it which leads to all sorts of distorted outcomes.

onemoresoop 7y ago
More and more countries are banning certain uses of plastics such as plastic bags and one time use plastics. Do you think that’s gonna have a distorted economic outcome? I think we could step out of the economic bubble sometimes and do things that are good for the environment - without which there would be no economic activity possible.
- WalterBright 7y ago
  > Do you think that’s gonna have a distorted economic outcome? Yes. Typically, such laws embed exceptions. But the exception list is always inaccurate. For an example, when the EPA set fuel economy standards for cars, it exempted trucks. The station wagon disappeared and was replaced with the SUV, which was a "station wagon" configured to pass the EPA definition of a truck. Instead of banning plastics and having an ever-wrong list of exemptions, raise the price (via taxation) so other materials become cost effective.
dmclamb 7y ago
This. How about a "plastics management" tax every company must pay based on the amount of plastic each of their products uses, including manufacturing, shipping, etc. That, or ship all plastic waste back to the company who made it to manage. When I walk into a store these days, I can't help but think almost everything there will end up in a landfill or the bottom of the ocean.