Sustainability: Internalizing the Economics of Society

“An activity is sustainable when all costs are internalized, because if the costs are too high, the activities stop. Low gas prices lead to more Hummers; taxing gas in some fashion to pay for environmental remediation makes sense, and is a pro-sustainability approach. This version of sustainability applies not only to the environment: labor practices are unsustainable if they breed unrest (or revolution) or fail to develop the labor force; additives that extend product shelf life are unsustainable if they diminish human life; corporate presence in a town may be unsustainable if the tax breaks that attracted the facility mean that it is not paying enough to keep the community thriving.”Read the rest here