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The conclusion isn't that all industries would be unprofitable if they ignored externalities. The conclusion is that they are unprofitable as they are currently
by xboxnolifes 4y ago
The conclusion isn't that all industries would be unprofitable if they ignored externalities. The conclusion is that they are unprofitable as they are currently designed.
In the face of a actually having to price in externalities, entire industries may end up with fundamental changes.