Yo, Hatrack! Now that you are back, how's about tendering an opinion on externalization?
Externalization? Until you brought this BS line of thinking I have never externalized anything. It is like deconstructing something another method of obfuscating what is being discussed.
Originally Posted By: Senator Hatrack
... Then the idea of "externalizing" the cost of the environmental disaster you mentioned is BS.
My friend, "externalization" is one of the most important and discussed topics in macroeconomics, yet you dismiss it with a handwave. That's like discussing "monuments" but asserting that "man- made structures" don't count. In a previous post I provided a short definition and link to keep the discussion on track. You have spent some time discussing "externalities" without using the term: taxes and tariffs are externalities, too; as is that "prosperity" you keep going on about. Environmental impacts are just one form of externality.
Most government policy focuses on addressing external factors to the market and business enterprises, generally: tax cuts, carbon taxes, environmental regulation, regulatory reform, local tax benefits, fair labor standards. Those are all efforts to address externalities in a capitalist (or any other economic) system.