"These types of situations make me think some externalities should be priced in, perhaps through taxes. "
Why not all? Externalities are hard to determine but in general this should be a principle in a capitalist market economy.
Why not all? Externalities are hard to determine but in general this should be a principle in a capitalist market economy.
A company cutting costs by dumping their PFAS into the local river isn't being "paid for" by anyone. Except with our health and all the dead insects and fish and compounding environmental effects brought with it
By definition an externality is a "market failure" because the market completely fails to account for this effect. There are "positive externalities" as well, but that's obviously not relevant here