3 ms·
The fundamental problem here is that the cost paid for a good does not directly include the cost to reclaim and/or sequester it. That cost is externalized, and
by eschaton 7y ago
The fundamental problem here is that the cost paid for a good does not directly include the cost to reclaim and/or sequester it. That cost is externalized, and so it winds up seeking a local minima, with serious adverse effects on the total system. If these costs are incorporated, everyone’s incentives are aligned and solutions will be found.