• 4 Posts
  • 297 Comments
Joined 5 months ago
cake
Cake day: February 19th, 2024

help-circle


  • Excellent explanation (and disclaimer). I might just add another 2 cents…

    It’s not just that “the market fails” to account for many “externalities”, but also that the market is systemically incapable of ever accounting for very many, very important externalities.

    IE. The space of externalities >>> the market space. For example if the market priced in the suffering of labor (by paying living wages+, etc), that alone might make the market unaffordable. Similarly with climate justice, etc. The exploitation of these externalities is largely the basis of “profit”.