Microblog Memes

~~Capitalists~~ People in just about every system ignore negative externalities, which are defined as costs borne by other people for the benefits that they receive themselves. Ironically, capitalism might be the best short-term solution, if only we had the political will. One of the major functions of government is to internalize negative externalities, via taxes and regulations. It's easy for a factory owner to let toxic effluent flow into the nearby river, but if it costs enough in taxes and fines, it's cheaper to contain it. We just need to use government regulations to make environmental damage cost too much money, and the market would take care of re-balancing economic activity to sustainable alternatives. The carbon tax is a well-known example of this technique, but we've seen how well that has gone over politically. Still, it's probably easier to push those kinds of regulations in a short time frame than to fundamentally revamp the entire system.