I do not want to end without mentioning another externality that is dismissed in market systems: the fate of the species. Systemic risk in the financial system can be remedied by the taxpayer, but no one will come to the rescue if the environment is destroyed. That it must be destroyed is close to an institutional imperative. Business leaders who are conducting propaganda campaigns to convince the population that anthropogenic global warming is a liberal hoax understand full well how grave is the threat, but they must maximize short-term profit and market share. If they dont, someone else will. - Noam Chomsky Jason again, but he makes his stuff friends only, so I pimp it all here. :D
Posted on: Sat, 22 Nov 2014 05:20:47 +0000
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