3 ms·

Of course some of those externalities are factored in. This happens via regulation. Here's one recent example: https://e360.yale.edu/features/at-last-the-shippi

Of course some of those externalities are factored in. This happens via regulation. Here's one recent example: https://e360.yale.edu/features/at-last-the-shipping-industry-begins-cleaning-up-its-dirty-fuels https://e360.yale.edu/features/at-last-the-shipping-industry... Or do you mean all negative externalities? To me, that seems akin to the coastline paradox.

bee_rider 4y ago
The coastline paradox comes from the fact that the length of the coastline is literally undefinable; there's always a closer level of granularity you could use to get a longer coast. For externalities, it seems like there fundamentally is a correct cost -- doing all the accounting might be a real pain though.
RC_ITR 4y ago
The coastline paradox is actually a great example. You can never price in all externalities, but you sure as hell can improve your pricing of externalities from what it is (in the same way a 1km resolution of coastline is better than a 100,000km resolution)
- rightbyte 4y ago
  Not really. One is kinda a fractal and one is kinda a converging geometrical series I believe?
  - RC_ITR 4y ago
    I would love for you to go one layer deeper on how pricing externalities is a converging geometric series.
oblio 4y ago
He means the biggest ones. We're only accounting for a very small percentage of externalities. Let's not build up strawmen.