Externalities arguably haven’t received the attention they deserve outside of economics, but I would disagree; what are climate change discussions, if not a discussion about externalities? Hell, just about any global issue is, in part, about externalities.
Inside of economics, they have more than 130 years of work, and are taught in any intro class.
If your argument is that we are bad at correcting for them, then yes. But that is different than not considering them.
Inside of economics, they have more than 130 years of work, and are taught in any intro class.
If your argument is that we are bad at correcting for them, then yes. But that is different than not considering them.