With respect to climate change, it has more to do with the property relationships of the current economic system than the market itself. If natural resources were commonly owned and people had a recognized right to their value, polluters and other people harming the environment during production would have to pay citizens collectively proportional to the social costs. Then, prices would accurately represent the social cost of pollution involved in the production of the product
With respect to climate change, it has more to do with the property relationships of the current economic system than the market itself. If natural resources were commonly owned and people had a recognized right to their value, polluters and other people harming the environment during production would have to pay citizens collectively proportional to the social costs. Then, prices would accurately represent the social cost of pollution involved in the production of the product