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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (33530)	3/30/1999 8:31:00 AM
From: E	Read Replies (3) \| Respond to of 108807

<< Corporations do not deal with externalities. Governments do. You need look no further than smokestacks which would be spewing tons of poisons into the air, were it not for government mandated pollution control. Wouldn't Asarco still throwing tons of arsenic into the air were there not a public instrumentality to put an end to its poisoning of populations? >> Here's another example of the need for social controls on market operations. A major source of dietary protein for low income, primarily black, South Africans, was the pilchard, a sardine-like fish formerly abundant in the waters around the country. Unregulated fishing destroyed the fishery. The consequent rise in prices for canned pilchard did not have the effect of stimulating some 'entrepreneurial' solution for the problem of the declining catch. Canned pilchards simply ceased to exist, and the black population of South Africa was left with a serious protein deficit. Belatedly, the government instituted controls. The fisheries have begun to recover. This protein source is returning to the diet of the poor.