The number of British pollution hotspots is also on the rise. If emissions remain unrestricted and uncontrolled, the costs of cleanup will reach £9.9bn a year in the UK, according to the findings of a year-long investigation by the Forever Lobbying Project, a cross-border investigation involving 46 journalists and 18 experts across 16 countries.

PFAS (per- and polyfluoroalkyl substances), commonly referred to as “forever chemicals” are a family of more than 10,000 human-made substances. Manufactured by a handful of companies, they are widely used in consumer products and industrial processes.

They can be found in nonstick pans, pizza boxes, cosmetics, waterproof clothing, firefighting foam and pharmaceuticals, among other places. The properties that make them so useful – heatproof, greaseproof and waterproof – also have fateful downsides. Almost indestructible without human intervention and persistent in living organisms, PFAS have been linked to infertility, cancers, immune and hormone disruption, and other illnesses.

  • Saleh@feddit.org
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    2 days ago

    How do you price in externalities if the risk is still limited to the value at which someone bought his shares or the minimum capital of an LLC? While you can put a price tag on known pollutions it is difficult with pollutions of the past that manifest as damage, as well as putting a price tag risks people just doing it anyway if it gives more profit than the price is.

    I agree that it is a general market failure, but pricing is only part of it, if the risk of punitive liabilty can be mitigated through a business form.

    • Avid Amoeba
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      2 days ago

      Right. The LLC makes all of it worse, no question. Also I’m not a huge fan of pricing significant externalities since as you point out, pricing is difficult, prone to error, can be too low, etc. I mean the whole point of an LLC is to offload risk to society in exchange for economic growth, with the idea that it would outweigh the the societal cost. I’m not sure that it does. :D