Indeed, insofar as a commitment to the "end of externalities" and the polluter pays principle means that those causing harms to society should pay for their negative externalities, it also implies that those delivering positive externalities—benefits to society—should be compensated.
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The accumulated externalities of my subscription just overwhelmed its price.
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A textbook example of such "negative externalities" is air pollution.
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He saw the effects of negative externalities at first hand.
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Tyrangiel called them "externalities" that he could easily tune out.
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But being careful about its externalities is the important piece.
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"We're a receptacle for the externalities around us," he said.
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Because markets do not always price in "externalities" like pollution.
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I mean, I'm pretty good at tuning out those externalities.
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Memphis' average tuition is about $9,700 a year, not including externalities.
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Coase considered externalities as a problem of ill-defined property rights.
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So they don't contribute to dealing with negative externalities they create.
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When we teach the concept of externalities – the idea that economic activities can generate costs or benefits that are not reflected in their prices – we often use coal markets as a textbook example of negative externalities.
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Economists have a special name for these extra costs: they are "externalities".
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Privacy concerns or potential negative externalities are never mentioned in the video.
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Smoking, driving and mobile phones all cause what economists call "negative externalities".
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Number four: externalities, which means it has a negative impact on society.
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It's not out there protecting people from public health or environmental externalities.
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Yes, there could be positive externalities associated with trade, but there could be positive externalities associated with lots of things, and Ricardian models don't give us any special reason to think that the trade ones are more important.
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They don't achieve any positive result, but they have lots of negative externalities.
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It&aposs very easy to be characterized by the externalities in your life.
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By contrast, the innovation-driven growth in blue states creates broad positive externalities.
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They are a tax on negative externalities — something akin to a pollution tax.
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"We are dealing with the negative externalities of capitalism right now," Powhida said.
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Another problem is that, just as economists talk of "negative externalities" (from, say, pollution), infrastructure can have positive externalities that are not captured by investors but will benefit society (the building of the internet or America's interstate highway system, for example).
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The social and political consequences of technology are externalities that must be accounted for.
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Interior should also consider raising royalty rates even more, to account for transportation externalities.
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These costs - what economists call externalities – need to be included in the market economy.
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Data brokers should be held accountable for the negative externalities they inflict on society.
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RPSs could very well pay for themselves even before externalities are taken into account.
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Here's the thing: Every energy source and energy industry has both positive and negative externalities.
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The first to lay out the idea of externalities was Alfred Marshall, a British economist.
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He's a self-righteous villain these days, moaning about the "necessary externalities" of improving humanity.
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Placing a price on carbon can monetize externalities that emissions impose on communities for years.
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Systems are filled with externalities that affect other systems in unforeseen and potentially harmful ways.
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But the externalities catalyzed by SoftBank&aposs unique brand of terrible judgment will be greater.
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This is a capitalistic system of embedding the real cost of externalities of this product.
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A counter-argument might be that the negative externalities of platforms scale along with their size.
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"I see [Pompeo's comments] as targeted toward China, but Pakistan is bearing the externalities," he said.
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Krieger urged more consideration of downstream externalities, and specificity on what problem a break-up fixes.
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A product's price should reflect its externalities so there is a deterrent to excessively consuming it.
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I mean, every other area of technology has regulation to pull back some of these externalities.
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Conversely, the lack of such compensating externalities for silhouettes of black sitters "blacked out" their personhood.
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That is to say, are they accurately reflecting the size and nature of the positive externalities?
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Climate and health estimates from CO2 pricing don't weigh the "full environmental externalities" of gas extraction.
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When roads are not paid for by those who use them, "negative externalities" will be inevitable.
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Who is taking responsibility for looking at the negative externalities of this push to create communities?
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Yet, in the face of scientific data, industry detractors demonize even economics and its positive externalities.
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As important as they are, it's difficult to assess the value of externalities with any precision.
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Over time the idea is to change the narrative of business to address social and environmental externalities.
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Maybe aggressive ad density could be taxed like cigarettes, air pollution, or anything else with negative externalities.
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He says he looks for companies in transition and tries to maximize specific situations while minimizing externalities.
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It is easiest to justify taxes on particular goods when they present what economists call "negative externalities".
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Second, the externalities they may impose on their users, including a loss of privacy and tech addiction.
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Levies on drivers to counterbalance the externalities of congestion and pollution are common in the Western world.
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"The critical thing is that you don't have a lot of disagreements or complicated externalities," King said.
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They are that way because they are not held accountable for the economic externalities that they created.
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" He went on to say: "It's very easy to be characterized by the externalities in your life.
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Such stores would produce negative externalities for the other renters and, in turn, for the mall owner.
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It's a difficult proposition, especially in a country so desensitized to the ugly externalities of car ownership.
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Yes, economics textbooks cover externalities or spillover effects, but these have not been integral to growth analysis.
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"Externalities accumulate faster in dense places, and you need to do something about them," Mr. Ogorzalek said.
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The existence of such externalities could, in theory, justify the use of public funds to subsidise sports teams.
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Market prices—of rail tickets, weedkiller or petrol—do not take these wider costs, or "externalities", into account.
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Such "negative externalities," as economists call them, aren't the fault of Amazon or any of its tech peers.
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Just because something is conservative doesn't always mean that it will work because here we have substantial externalities.
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Even better, the campaign comes with a number of positive externalities that help accomplish other global development tasks.
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Externalities, where "self-interest will not…tend to make the national dividend a maximum", were central to his theme.
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Just like the "sin tax" on alcohol, cigarettes, and plastic bags, meat would be taxed for its negative externalities.
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The price of consistency, in even the purest logical systems, is that it excludes externalities that cannot be reconciled.
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However, the gig economy ballooned — now permeating nearly every major industry — and its negative externalities have become inescapably evident.
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But we have since accepted the idea that businesses should pay the public for the negative externalities they cause.
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All sorts of negative externalities can be expected of someone who rightly feels he's living under an occupying army.
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As with past technologies, well-structured regulation can mitigate costly externalities, while ill-informed regulatory measures can interfere with progress.
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As these "negative externalities" become more obvious, public calls for regulators and the platforms themselves to take action is mounting.
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This type of decision is closely related to another: externalities — letting outside factors decide what you do with your money.
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One criticism of indoor farming is the increased electricity usage, but supporters view the advantages as outweighing the negative externalities.
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As these "negative externalities" become more obvious, calls for the regulators and the platforms themselves to take action are mounting.
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Roma may not have pushed the ERA through, but her work towards that goal led to some pretty positive externalities.
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But the expression's frequent appearance in headlines highlights the growing number of cities plagued by the externalities of rising tourism.
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Unaccountable firms impose massive inefficiencies upon the public thanks to the negative externalities actively encouraged by the limited liability regime.
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It creates pollution and other problems — negative externalities — that go beyond states' borders, notably the costs associated with carbon emissions.
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Clearview's founder, Hoan Ton-That, also seemed caught off guard when asked to imagine the negative externalities of his tech.
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The company's work typically has externalities that the CEO has not accounted for, or has begun to address only belatedly.
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Our calculations are not the only ones finding such large damages from so-called environmental externalities attributable to burning fossil fuels.
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But the academic literature has been far more sceptical of such arguments, generally finding little-to-no evidence of such externalities.
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Its dominance reflects what economists call network externalities: the more people use it, the more useful it becomes to everyone else.
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Now, however, Perry and other proponents are clamoring to account for alleged positive externalities from coal, such as reliability and resilience.
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The challenge will, of course, be to combat externalities while maintaining growth rates as the rest of the market — hopefully — recovers.
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Once coal has been driven from the grid and natural gas is the primary competitor, RE's advantage on externalities will shrink.
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Another is to pay for the cost to society as a whole of that harmful behaviour—what economists call its "negative externalities".
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However, many studies have a tendency to overstate the magnitude of such externalities, since they present gross costs instead of net ones.
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No quarter is ever identical to any other, owing to seasonality, shifting release dates, currency fluctuations, and a bunch of other externalities.
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Externalities like pissing off existing customers by rapidly obsoleting the car they just bought don't seem to have been taken into account.
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But, even more importantly, it simply doesn't reflect the cost of driving on everyone else, or what economists call the negative externalities.
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However, more and more stakeholders — everything from investors to consumers as well as the legislative sector — demands transparency about companies' unpaid externalities.
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Because Yahoo didn't give the internet much warning, a lot of weird externalities of the company's decision are being worked out in public.
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Moreover, the harms are often diffuse—externalities that are nearly impossible to precisely quantify—whereas the profits are concentrated and very easily counted.
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The negative externalities accompanying changes on, under, and over our roads, can be mediated by the same technologies that have sparked new headaches.
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Government should set a long term stable direction and allow price signals: business will then price externalities and will definitively change their models.
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Regulations correct for "externalities," where market forces alone would lead to the destruction of unpriced shared goods, such as clean water and air.
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"The athletes talking about externalities are probably not the ones who are going to be walking home with medals from here," he said.
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Technologies and markets do a lot of things spectacularly well, but they don't take care of pollution and other externalities on their own.
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Some policymakers argue that people who engage in unhealthy habits also impose negative externalities, since they tend to present taxpayers with bigger medical bills.
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After all, to say that uninternalized externalities result in private sector inefficiency is very different from saying that government policy will yield net improvement.
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Rather, what really matters is what economists would call the "positive externalities"—the ripple effects of the Olympic baseball splash far from Japan's shores.
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A potentially bad scenario is that features built in the name of "progress" have negative externalities that turn into future column items for me here.
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Economists and urban planners should rejoice because AVs mean that, for the first time, the unwelcome externalities associated with cars can be fully priced in.
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It must establish a network large enough to benefit from "network externalities", where all the single economists flock to where the other single economists are.
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But the innovation pessimists are missing the dynamism that comes from the internalization of negative externalities, and they're underestimating the strength of the American market.
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Stefanski is critical of the IMF's methodology, which he says could be too wide—attempting to account for the estimated costs of "externalities" like pollution.
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They are proudly experimental and maximally consequential, prone to creating externalities and especially disinclined to address or even acknowledge what happens beyond their rising walls.
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Where we move into net benefits is when we include the cost of the so-called externalities: water use, local pollution, and greenhouse gas emissions.
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MARCEL H. VAN HERPENGarches, France The "Economics brief" on externalities (August 19th) rightly stressed the importance of legislation and regulation in affecting behaviour, alongside market incentives.
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Back in 22020, a study in the Annals of the New York Academy of Sciences pegged these externalities at $280 billion to $211 trillion per year.
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Reformers argue that this laissez-faire attitude toward corporate consolidation has accelerated inequality and created myriad externalities that harm basically everyone in one way or another.
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Such negative externalities have been well-documented in countries like Sweden, where cash is rarely used, infrequently printed and is no longer accepted in most places.
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It's all well and good, in other words, to say that businesses should follow the rules and leave worrying about environmental externalities up to the regulators.
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Markets alone — particularly those in which carbon emissions and climate damages continue to be externalities pushed onto states and consumers — will not achieve the necessary results.
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Still, there is a problem with traditional antitrust policy when looked at through the lens of network externalities: It focuses only on consumers' benefits from competition.
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Economists talk about regulating only when there are market failures such as sellers having more information about a product than buyers or externalities such as pollution.
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The author, a freelance journalist, sees Ayn Rand-Milton Friedman free market theologians as concerned only with profits and not distribution or externalities (pollution, dangerous products).
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Taxes on carbon and other negative externalities, though not a universal panacea for the problems of climate change, would be a reform in the right direction, too.
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It's simply not possible to imagine a rule that corrects for negative externalities, asymmetrical information, imperfect competition, myopia, or any other problem in a socially beneficial way.
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Markets tend to underproduce what economists call positive externalities — that is, the broad social benefits, like a cleaner environment, that aren't captured on a company's balance sheet.
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But that book came out almost eight, nine years ago, and at the time, I was really interested in what economists call the externalities of low price.
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It makes a lot of sense for the federal government to act, for example, when states can impose costs — "externalities," in the economic jargon — onto other states.
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What unites these scenarios is that developers are dealing with externalities, like data or a third-party API, and trying to build fast on top of them.
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Moreover, the fiscal terms of federal leases fail to account for the many environmental and social externalities (or shared costs) imposed on the public by coal production.
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Regional actors have to fully appreciate the negative externalities that accompany instability, such as terrorism and failed states, which are the by-products of these proxy wars.
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Stations can even stratify the times they air news for this same reason, which would prevent duplicative programming and create positive externalities for better-informed local communities.
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Since folks with an eye on these topics are retweeting this, here are a few things I've written this year about the negative externalities of behavioral targeting.
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I started studying religion, and I quickly discovered what everyone who studies religion discovers: Underneath the externalities of these religious traditions, they're all saying the same thing.
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After a court ruled in 2008 that regulators must take the negative externalities of CO2 emissions into account, agencies began using differing estimates of the costs it imposed.
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Fortunately, the Green Revolution obviated such a disaster in the mid-twentieth century, although it also introduced new and significant environmental externalities that humanity has yet to overcome.
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The way to solve these externalities is through investigation and better documentation — to follow the money deep in the supply chain, to figure out who's ultimately getting it.
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Even when trans and non-binary people are able to "pass" and use the bathrooms of their choice, the violence directed at others in their community has painful externalities.
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If an energy source has negative impacts that are not incorporated in its market price (negative "externalities," in the jargon), that means other people are paying for those impacts.
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One major driver of the current trend to adopt AI solutions is that the negative externalities from the use of AI are not borne by the companies developing it.
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Professional sports teams have long argued that their presence in a city generates positive externalities—that is, that their presence benefits local businesses such as restaurants, hotels and bars.
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Efforts to account for these so-called 'externalities' by calculating their actual costs have been well-meaning, but have had negligible impact on the actual operation of capitalist markets.
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The environmental "E" means shunning companies that produce a large amount of externalities—costs not captured in the manufacturing process—like carbon or waste or other forms of pollution.
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Many economists favor a tax on carbon dioxide or a cap-and-trade mechanism to price the externalities of greenhouse gases and to accelerate the race toward zero emissions.
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It is impossible to isolate the optimization of business performance, such as cost, quality and productivity from the externalities imposed by government policies, such as taxes, regulation and protection.
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Importantly, these nuisance cases are in state court, which means they will likely avoid this Supreme Court, which has zero interest in holding corporations accountable for their environmental externalities.
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But at least they can try to address the wide variety of externalities posed by tech, which may have been impossible for an internet more fragmented by smaller firms.
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But at least they can try to address the wide variety of externalities posed by tech, which may have been impossible for an internet more fragmented by smaller firms.
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The classical justification for environmental regulation is that without properly designed rules, businesses do not have to pay the true costs of their economic activity (what economists call "externalities").
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And one of the positive externalities of that was we became a place that if you were interested in that kind of content, that you really wanted to work.
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"If subsidies are to be used, theory indicates that subsidies to existing firms to increase output to achieve externalities is likely to be a more efficient approach," he wrote.
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For those fortunate enough not to know, "involuntary celibates" are a particular subset of people (almost entirely male) who blame externalities (almost always women) for their inability to have sex.
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To Sands, the only difference between him and your average kid repetitively kicking a ball around in a suburban backyard are trivial externalities such as the location and the stakes.
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The positive externalities from this can be limitless — but so can the risk that industry is bent toward the profit and influence of companies, and not to members of communities.
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But as a global investor the fund wants to avoid investments in one sector to negatively impact another, so-called externalities, which would hurt the overall value of its portfolio.
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Hardly anyone can talk abstractly about freedom and connection and collaboration, the blithe watchwords of the mid-203s, without making a mental list of the internet's more concrete negative externalities.
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Now, they argue, the externalities that businesses impose on society are sometimes impossible for shareholders to mitigate as individuals, particularly if the political and legal system is a barrier to change.
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The work instead looks to lay out multiple possible outcomes in order to help citizens prepare for transformations in labor and to derive policy recommendations to mitigate externalities in each scenario.
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Transportation routes by steamship and railway expanded faster than ever, and technological advancements like the compressed air drill resulted in tremendous positive externalities, all the result of the search for gold.
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Returns on investment through the lens of healthy outcomes of whole communities, where positive externalities from creating and restoring natural ecosystems comprise intrinsic value and returns beyond all expectations and imagination.
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Card and his co-authors elaborate: A broader class of externalities arises through the fact that people value the 'compositional amenities' associated with the characteristics of their neighbors and co-workers.
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Advocates of taxes on vices such as smoking and obesity argue that they also impose negative externalities on the public, since governments have to spend more to take care of sick people.
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As this newspaper has long argued, only by pricing carbon emissions in a way that accurately reflects the impacts of traditional energy will markets effectively manage externalities in energy production and consumption.
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And if the government is too dysfunctional to produce coherent policies, there may be no way to offset the externalities—massive job cuts in one town, say—that profit-seeking firms create.
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Ronald Green of Dartmouth College says that society has a right to demand socially responsible behaviour in return for the privilege of limited liability and the right to impose externalities on society.
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In other words, a candidate who is philosophically further from their constituents' political center can still prevail when they have a strong narrative, skills and perhaps favorable externalities such as national mood.
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Environmentalists have gotten used to fighting the pitched battles to get "externalities" such as asthma rates, sick days, property losses from sea level rise or wildfires recognized in the cost-benefit analysis.
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Although it might initially sound strange, a vaccine tax would make sense economically when considering externalities, or the unexpected benefits and losses for society that spill over from a person's single decision.
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The main rationale for these subsidies is that wind and solar produce, to use the economic term of art, "positive externalities" — benefits to society that are not captured in their market price.
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It was an early mover among international investors in trying to assess climate change risk, wanting to avoid investments in one sector negatively impacting another - so-called "externalities" - and hurting its overall portfolio.
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They are typically the result of prior bad decisions and always forced upon you by some third party, such as a lender, government agency, credit card company, employer, spouse, family, or friends (externalities).
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Plus, the MacArthur Foundation report points out that plastic packaging generates negative externalities for companies, such as potential reputational and regulatory risks, valued conservatively by the United Nations Environment Programme at $40 billion.
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Bill Gates recently argued that we should tax robots, and [Nobel Prize winning economist] Robert Shiller has argued that automation technology is like alcohol—it has negative externalities and therefore should be taxed.
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"The circular economy is gaining growing attention as a potential way for our society to increase prosperity, while reducing demands on finite raw materials and minimizing negative externalities," WEF said in the report.
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"In an ideal world, the negative externalities would have a price on them," said Scott Hennessey, the vice president of policy at the solar power company SolarCity, using an economics term for pollution.
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With an average of two people in each car, Komaoff found, driving a car into Manhattan on a weekday causes about $160 of negative externalities to everybody else trying to use the road.
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By some estimates, gas and diesel taxes account for more than 90 percent of all U.S. revenues from environmental taxes, defined as those levied on specific physical products with proven negative environmental externalities.
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Now, of course, they don't because there are always these externalities which we saw at back– you stand far enough back from an S&P chart and look over time, it's a straight line.
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It's the same thing with a slate of on-demand or home-rental tech, the impact of which are too often shrugged off as "negative externalities," which is a great euphemism for terrible things.
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Moreover, there are strong positive externalities at work here: As with cellular networks 25 years ago, the decision of early adopters to adopt detection and defense systems benefits others who are slower to move.
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There often remains reticence for the private companies to publicly admit breeches or share information with government for a variety of reasons — public reputation (real or imagined), fear of regulatory sanctions, liability or other externalities.
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Publicly listed firms are accused of a list of sins, from obsessing about short-term earnings to neglecting investment, exploiting staff, depressing wages and failing to pay for the catastrophic externalities they create, in particular pollution.
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It holds the position partly because of network externalities; if lots of people do their trade invoicing in dollars, it is convenient for you to also do your business stuff in dollars to keep everything simple.
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Social media is increasingly being seen as a source for great social evil, a vast collection of negative externalities with shrinkingly few benefits where nearly every company running such a platform is controlled by amoral capitalist vampires.
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When I began my freelance career, almost all the career advice articles I found also focused on these externalities: how to build marketing skills, how to negotiate prices, how to network, how to manage time most efficiently.
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After all, we normally think of Republicans in general, and Trump in particular, as people who minimize or deny the "negative externalities" imposed by some business activities — the uncompensated costs they impose on other people or businesses.
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"If you look at the positive externalities of the open source and free software that&aposs been created and the way that it powers every cloud, every device, it&aposs hard to argue with that," Friedman says.
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And so the ability to build capabilities, to build the product at that scale with that velocity, and focus most of your time on that rather than all of the externalities of running a large company, it's great.
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Bloomberg then derived a "score" for the opportunity cost of commutes based on average annual incomes and average total annual commuting hours per worker, weighted based for other externalities such as how early or late average departures were.
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In his interview with The New York Times last week, Mark Zuckerberg even went so far as to describe A.I. as the antidote that will cure the internet of such negative externalities as hate speech and election interference.
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In the same vein, the network effects that attracted our friends, friends' friends, and barely-memorable tertiary acquaintances and packs them into close proximity behind the walled gardens of sites like Facebook and also generates its own negative externalities.
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They can't exploit the positive externalities of their business, but they are held liable for the negative ones, like increasing traffic congestion or the creation of an underclass of freelancer drivers who are paid inadequately and lack safety nets.
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"Both parties are trying to come up with a 21st century economic doctrine that widens the winner's circle and finds ways to course-correct the obvious inequities and unaddressed externalities of our current system," says Bruce Mehlman, a leading policy lobbyist.
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As Gizmodo has noted before, one possible outcome even if they do succeed is that tech companies will use the opportunity to create monopolies in the countries with the least internet infrastructure, generating a host of negative externalities in the process.
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Alcohol definitely has some big externalities: Excessive drinking is linked to 88,000 deaths each year in the US, making it the third leading cause of preventable death in America after smoking and the combination of poor diet and physical inactivity.
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Leaving aside legitimate fears like information leaks, incorrect predictions or systemic externalities that may require appropriate regulations or technical standards, our policymakers must understand that users do not view digital privacy in black and white, but rather in shades of gray.
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All energy sources have externalities that many of us are passionate about: emissions from burning fossil fuels, groundwater contamination related to oil and natural gas extraction, impacts on fish migration for hydropower and desert habitat disruption for solar, just to name a few.
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Wei closes by suggesting that acknowledging that social networks are status businesses may even help them mitigate (or at least better focus on) some of their externalities, including the fact that many of the people seeking status there are extremely bad actors.
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Many economists oppose wealth taxes like the estate tax on the grounds that they penalize savings, but intergenerational transmission of wealth also has huge negative externalities (heirs less willing to work, less equal politics, etc.) that eliminating the estate tax entirely would worsen.
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Mohan did what many of C-suite techies do when confronted by an angry public, the press, and a wealth of anecdotal evidence that their business may be imposing some negative externalities on society at large: He sidestepped basic questions and redirected blame.
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As negotiators from the United States, Canada, and Mexico descend on Montreal for the latest round of NAFTA discussions, attempting to make progress on the deal, their definition of a "good agreement" should include provisions to prevent crises of externalities from NAFTA.
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Related to both redistribution and externalities is something that people don't think about much these days but that has historically been significant: the fact that sometimes the government is really trying to give the economy a good hard shove in a particular direction.
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"When The Fed is shrinking their balance sheet and raising interest rates it makes the landscape more vulnerable to these type of externalities, " Boockvar, chief investment officer at Bleakley Advisor Group, a $3.5 billion wealth management firm, told CNBC, regarding potential trade wars.
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Health spending is another example, because people vary widely in how much health care they need (some get lucky, some don't) and because health care has positive externalities — vaccination reduces the risk of disease even for the unvaccinated, and disease eradication benefits everyone.
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It is debatable as to whether historic positive sentiment about Facebook was a result of the company being noncommittal, rather than a failure by broader society to appreciate the negative externalities caused by Facebook&aposs deficient approach to content moderation and data security.
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If "Anne of Green Gables" were written today, it is easy to imagine that over the course of the book, Anne would come to learn that none of these externalities matter: not the color of her hair, not the sleeves of her dress.
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All three of these outfits think long term: Amazon CEO Jeff Bezos and Berkshire CEO Warren Buffett as individuals, and J.P. Morgan because it is a bank and understands compound interest, discount factors and externalities and the economics of long-term thinking.
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Many economists oppose wealth taxes like the estate tax on the grounds that they penalize savings, but intergenerational transmission of wealth also has huge negative externalities (heirs less willing to work, less equal politics, etc.) that cutting the estate tax dramatically would worsen.
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In the United States, these negative externalities erupted from the virtual world into the physical with the stunning display of white supremacism in Charlottesville, Virginia, in August 2017 — a gathering later shown to have been the culmination of extensive preceding activity online.
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In a photo-op with business leaders at the White House Monday morning, President Donald Trump arbitrarily suggested his administration would "cut regulations by 75 percent, maybe more," so that big companies can do whatever they want without considering externalities like environmental and employee safety.
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Then there is the fact that America's sharpening patterns of too-much growth in the superstar cities and too little everywhere else have begun to spawn disturbing externalities: stagnation in whole swaths of the country, small-town resentment of coastal elites and backlash politics.
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It involves doing cost-benefit analyses that include both the projects' direct costs — the sort of thing that investors base decisions on — and their "externalities," the costs and benefits to society such as air or water pollution or useful knowledge uncovered by research and development.
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Being a good citizen is good business, but at the end of the day the externalities that are caused by unfettered growth, it's our responsibility to take the 90 percent of GDP we allocate to government and hold government accountable and ensure that they do behave ethically.
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Probably. And in all likeliness it'll be slow, buggy, and—like Facebook's ill-fated stranglehold on internet availability in the Philippines—further entrench the monopolies of the companies that provide it, and create a whole host of new negative externalities no one is prepared to deal with.
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Negative externalities persist across public health, like secondhand smoke in a bar from cigarette smoking, or air pollution in a community from a carbon-emitting coal plant, and governments regularly correct for them through taxation, forcing a consumer to pay for the full "social" cost of an action.
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They questioned the science; they insisted that any attempt to limit emissions would greatly damage economic growth; they denounced government intervention and declared the sanctity of free markets (even though Econ 101 calls for intervention in the case of negative "externalities" like pollution.) But none of it was sincere.
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But there's also no getting around the ugly externalities of app-based ride-hailing: hundreds of thousands of low-paid drivers at the mercy of an uncaring algorithm, women passengers subjected to sexual assault and rape, cities choked with traffic congestion, public transportation systems struggling to maintain ridership.
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Specifically, if we commit to an "end of externalities"—meaning that polluters must either stop their harmful emissions or pay for the damage they cause—we would see an enormous amount of corporate focus on reducing pollution and a major ramp-up in efforts to solve environmental problems.
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As we've learned through research, reporting, and individual experience, there are quite a few negative externalities associated with solving for engagement and engagement alone: It's calculating what is the thing it can show you that gets the most engagement, and it turns out that outrage, moral outrage, gets the most engagement.
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As well as promising emissions-reduction efforts on a scale beyond Hercules at a cost beyond Croesus, in framing global warming as a matter of justice, rather than economic externalities, it promises all sorts of ancillary goodies, including robust economic growth (which some hard-line greens will have a problem with) and guaranteed employment.
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Fears over how Amazon's presence will impact the future of New York were given more credibility with the presence of Seattle City Council members Lisa Herbold & Teresa Mosqueda, who had flown to New York from Seattle to discuss lessons learned from having Amazon's Headquarters in the city and to warn the city about the negative externalities that have come with it.
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On energy, Sanders didn't get the call for a national fracking ban that he wanted, but he did get Clinton's camp to embrace the stance that "greenhouse gases should be priced to reflect their negative externalities, and to accelerate the transition to a clean energy economy and help meet our climate goals" -- which sounds similar to the carbon tax that Sanders has supported.
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Stiroh suggested that managers often underinvest in preventing employee misconduct for the same three reasons they underinvest in other aspects of governance: — Externalities: Misconduct costs are often not borne by managers; — Principal-agent problem: Employee interests do not align with those of shareholders; and — Adverse selection: Firms known for excessive risk-taking may attract "bad apples" because of their reputation, causing a downward spiral of misbehavior.
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The exact problem that faced the Bush administration in 2007 and 2008 would recur: Given the massive externalities on Main Street of large bank failures in terms of lost jobs, lost income and lost wealth, no rational policymaker would risk restructuring large firms and forcing losses on creditors and counterparties using the new tools in a risky environment, let alone in a crisis environment like we experienced in 2008.
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One of the lesser-known Randy Newman songs, "New Orleans Wins the War," describes a Big Easy that wasn't quite sure that the Second World War was over, or even if that was the war it had been worried about: In 1948 my Daddy came to the cityTold the people that they'd won the warMaybe they'd heard it, maybe notProbably they'd heard it and just forgot'Cause they built him a platform there in Jackson SquareAnd the people came to hear him from everywhereThey started to party and they partied some more'Cause New Orleans had won the war(We knew we'd do it, we done whipped the Yankees!) This looks silly on the surface, but the point is that externalities recede; whatever happens, catharsis or frustration, win or lose, there's always a day after the last game of the World Series, it has a name, and it's called The Rest of Your Life.
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