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Please explain how market economies deal in scenarios where externalities are involved. How do they price in those externalities? Also, how well do market econo

by c1sc0 3y ago

Please explain how market economies deal in scenarios where externalities are involved. How do they price in those externalities? Also, how well do market economies perform for the common good when limited natural resources are exploited?

landemva 3y ago
> when limited natural resources are exploited Malthus was not correct. I'm trying to think of one commodity which has been used up, and I can't think of one though you can name a few. Private property, free markets, and rule of law are not perfect. What system is better for a good standard of living for the masses?