Externalities

I have seen graphs with interesting correlations but remembering my studies in economics, I know that economists avoid what they term externalities as it spoils their theories. ❋ Unknown (2006)

Those are real costs, but they're what we call externalities - they're not included in the price we pay for goods and services. ❋ Lisa Katayama (2010)

The assertion that economic models cannot or do not address negative externalities is also absurd. ❋ Unknown (2009)

Capturing externalities is a exception to this rule, but accounting for resource depletion is most emphatically not. ❋ Unknown (2010)

You think people and companies should be forced to bear the costs of “externalities”, a code word for the economic costs of the environmental damage they cause. ❋ Unknown (2010)

And it becomes even more expensive when you factor in externalities such as the costs of terrorism and war to keep those oil imports coming. ❋ Unknown (2010)

Individuals with strong mathematic backgrounds are a scarce resource, and we should attempt to avoid having them wasted on economics since the positive externalities from the actual substantive knowledge of engineering majors far exceeds the personal signaling effects that economics majors receive. ❋ Unknown (2009)

As you say, humans are smart enough to not have to trash the earth to derive a living from it, and making the offenders in question responsible for externalities is typically a better solution than ceasing economic activity altogether. ❋ Unknown (2009)

While a free market should in theory lead to maximized utility, one has to understand when it appears long-term externalities are not being accounted for. ❋ Unknown (2009)

What economics doesn't cover is what's -- economists -- sorry, economists call externalities, which is pollution, global warming. ❋ Unknown (2008)

FDA, EPA, and their fellows, share a common theme: control of what economists call externalities, that is, the effects of private actions that impose costs and burdens beyond the little circle of immediate actors. ❋ Lawrence M. Friedman (1985)

Now, if one includes these "externalities" - the real costs - of oil extraction in Uganda, one might conclude that scaling back production by, say, 90% relative to current production, and by cancel all new production deals, Uganda would benefit greatly. ❋ Unknown (2010)

Still, he uses the catchy example to give a skilled explanation of "externalities" - all those societal costs that are not reflected on an item's price tag. ❋ Mark Engler (2010)

Such social costs-modern economists call them "externalities" - don't enter the calculations of the railroads or its customers, but in tallying up the ultimate worth of any economic activity, "[a] ll such effects must be included," Mr. Pigou insisted. ❋ Unknown (2009)

Economists call these "externalities" -- the public health and environmental costs that do not show up in our energy bills. ❋ Unknown (2009)