3 ms·
Yes, the problem here is that capitalism is good at some things (making microwaves cheap) and not others (dealing with externalities). We’ve let it be the domin
by waterproof 3y ago
Yes, the problem here is that capitalism is good at some things (making microwaves cheap) and not others (dealing with externalities). We’ve let it be the dominant force shaping “progress” for quite some time, so we’ve made progress on a lot is things capitalism is good at solving. In the meantime we’re also backsliding or stagnant on various issues that capitalism can’t address alone.
The pro- and anti-capitalist sides both have a point.
- eru 3y agoIf you are worried about externalities, either look into Coasian bargaining or slap the obvious Pigovian tax on (or do a cap-and-trade scheme). The latter has worked really well against acid rain. See https://en.wikipedia.org/wiki/Acid_Rain_Program https://en.wikipedia.org/wiki/Acid_Rain_Program No need to intervene further to prevent some 'evil' race to the bottom. Just narrowly address exactly the externality in question, and stop there. Compare https://openborders.info/keyhole-solutions/ https://openborders.info/keyhole-solutions/