I loved the story. well-researched, well-written opinion piece with interesting examples and stories to explain different terminologies. This is how the writer explained ‘externalities’:, when individuals and organizations act primarily in their own interest, they will tend to engage in behavior that is beneficial to them, but harmful to others.
A simple example is litter: if I don’t feel like properly disposing of, say, my candy wrapper, I may just drop it on the floor. I have then externalized the problem of what to do with my trash. Either someone else will pick it up, or it will find its way into some natural ecosystem and pollute it. Either way, it’s “not my problem” . Companies do the same sort of thing, at aThe writer discusses the problems like climate change and financial inequality that hit home.
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