Concept information
Término preferido
externalities and social costs
Definición
- The economic ideas of externalities and social costs derive from the notion that the individual's pursuit of his or her self-interest does not always work to the best interests of society—that there are spillovers to other members of society resulting from the individual's actions. These externalities may be positive—such as with education (where society as a whole, as well as the individual, benefits from an individual's education)—or negative—as when goods production results in pollution. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Externalities and Social Costs]
Concepto genérico
Pertenece al grupo
URI
http://data.loterre.fr/ark:/67375/N9J-VG1VXJ1Q-B
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