EXTERNALIZING COSTS: MAKING EVERYBODY PAY FOR WHAT OTHERS ARE DOING

Cost externalization or externalized costs usually refers to producers [often corporations] that off-load indirect costs, called negative externalities, to a third party [often all of us] in order to maximize their profits. An example would be a corporation not taking financial responsibility for the polution that they produce or paying their employees low wages and thus requiring them to use food stamps and other forms of public assistance that we all pay for through our taxes. The UN is currently studying the cost of polution and other environmental damage by the world's top 3,000 corporations. The price tag is $2.2 trillion. That represents 1/3 of the profits for these corporations. So, for the sake of more profit, these corporations are willing to contribute to the end of our planet as they put the burdon of this pollution on the rest of the world. Does it seem right that a very small percent of the world's population gets money at the expense of the rest of us. I believe that everbody would agree that this is very wrong. It is not part of a fair capitalistic system as externalizing costs can allow a corporation to lower the cost of their products giving them an unfair advantage over other corporations making the same type of product. It is not right. It is morally wrong and all of us know this. So why do we tolerate this? It may be because we are also guilty of externalizing our costs by: purchasing things that are cheap because of the manufacturer externalizing costs; by polluting [not carbon neutral, not recycling, etc.]; buying stocks of corporations that externalize costs; by electing people who promote externalization of costs; etc. So, many of us externalize costs. If we want those corporations to stop externalizing costs then it might be helpful for all of us to do likewise. This might increase our awareness and sensitivity to this problem and help all of us to work together to treat each other with more respect as we take responsibility for our own problems and help others to take responsibility for theirs.

Does this make sense?