Negative Externalities: It’s time to change our viewpoint (Part II)
Negative externalities are mostly viewed as a macro-economic issue, but their poison percolates the entire economic system, including at micro-economic level, sending the wrong incentives to business executives and consumers. Olivier Boutellis argues that they are a fundamental flaw we have to fix now.
Negative externalities - It’s time to Change our Viewpoint (Part I)
Markets have been a fantastic driver of wealth and wellbeing... but for the small problem of negative externalities. Scientists worry that negative externalities threaten life on earth - yet we have not resolved the problem. In the first of a two part series, Olivier Boutellis asks why a hundred years of debate on externalities has not changed anything.