2 ms·
If your question is how to fix negative externalities, the answer is "regulation". Otherwise... you can't make people care about every little thing in their li
by raquo 7y ago
If your question is how to fix negative externalities, the answer is "regulation".
Otherwise... you can't make people care about every little thing in their lives. Sure we can solve this hand dryer problem with an awareness campaign or microdonations or whatever. But what do we do for the other hundred thousand issues like this?
Nobody has that much attention to spare on non crucial things. That's why we elect people to make these decisions for us.
Many things are going to suck as long as our elections remain broken. That is a much harder problem to fix, but there is no way around it.
Unregulated markets, no matter how innovative, do not always produce perfect outcomes. Basic conditions for and solutions to market failure have been known for more than a hundred years. It's not rocket science.