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> As long as our markets correctly price in externalities

This is a little like saying "if unicorns ate hay..."

It sounds reasonable on the surface, but it's also never happened and probably never will.

Right, the definition of externality is literally a cost that isn't priced into the market.

It's a reasonable 'spherical cow in a vacuum' type thing to work towards and compare things with, as long as you remember that it's not the default state of the universe or that we live in the best of all possible worlds and there's no room for improvement.

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