Insight and inspiration in turbulent times.
What externalizing of costs does is it manufactures ill-health in ecosystems, societies, cultures — the world. And modern governments are not only not standing up against this destructive extraction, but are deliberately fanning its flames, supporting and encouraging it.
On May 18 the International Monetary Fund (IMF) published a report titled “How Large are Global Energy Subsidies?” The question is a bit misleading…
Last week’s discussion of externalities—costs of doing business that get dumped onto the economy, the community, or the environment, so that those doing the dumping can make a bigger profit—is, I’m glad to say, not the first time this issue has been raised recently.
Economic life in the industrial world these days can be described, without too much inaccuracy, as an arrangement set up to allow a privileged minority to externalize nearly all their costs onto the rest of society while pocketing as much as possible the benefits themselves.
