A “competitiveness crisis” is raising alarms for officials and business leaders in the European Union, where investment, income and productivity are lagging....
The “controversy” they talk about is when He is talking about market failures and brings up the “externalities” that are the side effects (which can be negative or positive, but when talking about a market failure you are talking only about the negative) that occur when producing or consuming.
A well-known example for externalities is pollution: I am a company, I produce, but I “externalize” the expenses associated with my production by throwing waste into the environment (something we pay as a society when in reality the responsibility is private).
But that is an externality in production.
He speaks of an externality in consumption that would be when the side effect arises from the fact of consuming.
Now those are similar, but for consumption.
For example, the case of the pandemic in the USA when the people were going to the supermarkets to stock up on toilet paper, leaving them empty. The negative externality of consumption there is that there are people who couldn’t wash their butts
I hope that makes sense
In this case, bringing it to the example of toilet paper, the guy is saying something like that, eventually, people are going to stink so much that they are going to look for an alternative to toilet paper. Therefore, proving that the market did not fail because it was actually part of the market discovery process.
Now, it is one thing to think that he is wrong and another different thing to not understand what he’s referring to.
And whatever the case, it is true that cutting the context is quite hypocritical and biased because it is talking about a hypothetical situation where he counterargues using absurdity.
That is, regardless of what you may think about what he said or whatever his argument exactly is, it is certain that he is not referring to what we all understood when we read the subtitle of the news.
Gunmen have killed the female mayor of a town in Mexico just hours after the country celebrated the election of Claudia Sheinbaum as the nation’s first woman president....
A woman will lead the country for the first time in history. President López Obrador’s successor has won a second term for the National Regeneration Movement and stifled the conservative coalition’s aspirations...
Doctors are hailing “off the chart” trial results that show a new drug stopped lung cancer advancing for longer than any other treatment in medical history....
Recent voter surveys say between 14% and 22% of under-30s would vote for the far-right Alternative for Germany party in the upcoming European elections. But who are these potential voters?...
Being absorbed by another ministry does not by any means implies that it has been ERADICATED. At most it became a secretary or sub secretary, but not gone.
And? Barring any opinion on it, it’s not illegal, and people have the rights to exercise their beliefs in ways that don’t impact third parties negatively, as weird at it might sound.
Focusing on that again, instead of the achievement of pulling a win with almost no resources against a fully, decades deeply state entrenched political party through a, by any normal politics, very unpopular message of reigning spend, while being lambasted in the dirtiest campaign ever seen in Argentina, is miopic and a bit misogynistic too imo, given that she is being minimized from the beginning just by her occupation as if she cannot provide value?
Jose Raul Mulino’s election victory in Panama confirms a shift in Latin America economic policies. Disenchanted with years of state intervention in the economy, voters now hope free markets will improve their lives....
Argentina year-end inflation estimate drops to 146% in cenbank poll (www.reuters.com)
Everyday, as an American (midwest.social)
Yuntai: Hiker finds pipe feeding China's tallest waterfall (www.bbc.com)
A controversy over a waterfall has cascaded into a social media storm in China, even prompting an explanation from the water body itself....
Europe Has Fallen Behind the U.S. and China. Can It Catch Up? (www.nytimes.com)
A “competitiveness crisis” is raising alarms for officials and business leaders in the European Union, where investment, income and productivity are lagging....
Europe’s rapidly rising right: Hard-right forces are gaining ground ahead of next month’s European Parliament election (www.politico.eu)
The longstanding effort to keep extremist forces out of government in Europe is officially over....
Gangsters in El Salvador are terrified of strongman Nayib Bukele (www.economist.com)
Milei meets Google and Apple CEOs, sparks controversy at Stanford - Buenos Aires Herald (buenosairesherald.com)
El Salvador's Bukele sworn-in for second term as Milei watches on | Buenos Aires Times (www.batimes.com.ar)
There's no such thing as too much garlic (i.ibb.co)
Mexico election: Mayor killed after first woman elected leader (www.bbc.com)
Gunmen have killed the female mayor of a town in Mexico just hours after the country celebrated the election of Claudia Sheinbaum as the nation’s first woman president....
Read the Full Transcript of Joe Biden's Interview With TIME (time.com)
The American People (lemmy.world)
Four more Israeli hostages have died in Hamas custody (www.nbcnews.com)
stonks, your boos mean nothing (lemmy.world)
Most downvotes or not even close…
success (lemmy.world)
Leaked still from the French Pokemon reboot (lemmy.world)
Claudia Sheinbaum, the first female president of Mexico (english.elpais.com)
A woman will lead the country for the first time in history. President López Obrador’s successor has won a second term for the National Regeneration Movement and stifled the conservative coalition’s aspirations...
German police officer injured in Mannheim knife attack dies – DW – 06/02/2024 (www.dw.com)
Who doesn't love Kit Kat's? (lemmy.world)
Chocolate and Sea food seasoning always goes great together! You might even taste some lobster or crab.
German police shoot knifeman after attack on rightwing protest (www.theguardian.com)
Trial results for new lung cancer drug are ‘off the charts’, say doctors (www.theguardian.com)
Doctors are hailing “off the chart” trial results that show a new drug stopped lung cancer advancing for longer than any other treatment in medical history....
‘People ask me to use another door’: MEPs on bias, whiteness and rise of far right (www.theguardian.com)
From being repeatedly asked for ID to feeling threatened by harmful rhetoric, politicians say lack of diversity is undermining work of EU...
IMF improves inflation projection: 150% this year, but 45% in 2025 | Buenos Aires Times (www.batimes.com.ar)
Who is subscribing to Game Pass, PS Plus and Nintendo Switch Online, and why? (www.gamesindustry.biz)
Why are German young people so easily seduced by AfD's ideas? (www.euronews.com)
Recent voter surveys say between 14% and 22% of under-30s would vote for the far-right Alternative for Germany party in the upcoming European elections. But who are these potential voters?...
Are ya winning, son? (lemmy.world)
‘A catastrophe’: Greenpeace blocks planting of ‘lifesaving’ Golden Rice (www.theguardian.com)
Thousands of children could die after court backs campaign group over GM crop in Philippines, scientists warn...
I'm with McCoy here (lemmy.world)
Sorry about that ridiculous watermark.
Non-binary (lemmy.world)
The economy is thriving under Biden. So why don’t Americans believe it? (www.dailykos.com)
Javier Milei’s Radical Plan to Transform Argentina (time.com)
Latin American voters ditch socialism for free enterprise (www.dw.com)
Jose Raul Mulino’s election victory in Panama confirms a shift in Latin America economic policies. Disenchanted with years of state intervention in the economy, voters now hope free markets will improve their lives....
‘Not genocide’ says Biden after ICC warrants sought (www.google.com)