Another Voice: The expense of externalized costs ...Middle East

A fundamental assumption in economic theory is that price includes all costs of production. In reality, there are always unincluded “externalized costs.” These may be considered too minimal or too difficult to calculate, or fraudulently hidden for competitive advantage. These costs are always paid, just not by the person profiting from the sale of the product. A good example of an externalized cost is our global plastic problem. Every manufacturer saves money with the convenience of cheap, versatile, durable, light weight disposable packaging. Most winds up in our landscape, air, water, and food, causing blight, wide spread health problems, and death throughout the biosphere. The enorm

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Last updated : 20 June 2021 clock 03:45 PM

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Another Voice: The expense of externalized costs ...Middle East

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