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Politics : Canadian Political Free-for-All

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To: MrsNose who wrote (2761)6/18/2003 4:35:14 PM
From: SofaSpud  Read Replies (1) of 37815
 
I like beef as much as the next person (probably more, in fact) but you're absolutely right in fighting this.

This is an example of what economists call "market failure", where the cost of externalities is borne by society. In this instance, the externalities include the risk of contamination of water supply and diminished enjoyment of your own property due to ambient odours. The tremendously competitive nature of the industry makes it impossible for a producer to genuinely internalize those externalities in the absence of a change to the system -- either to property rights or the regulatory environment. That, too, is what led to the (IMO) abomination of feeding animal protein to herbivores, which is thought to result, occasionally, in BSE.
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