Viewpoint: The Economy That Remembers: Institutional Amnesia and the Regenerative Correction
There is a word we use in economics that deserves far more scrutiny than it receives: externality. On its face, it sounds neutral — a technical term for costs or benefits that fall outside a transaction. But the word itself performs a kind of sleight of hand. By labeling something an externality, we declare it outside the system. We render it invisible to the ledger. We give ourselves permission to forget it.
Photo courtesy of soumya parthasarathy.
Source: Impact Entrepreneur (link opens in a new window)
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