Capitalist Social Schizophrenia: Dire Consequences of Profits Termed “Externalities”

On an individual level, we are told that we need to “take responsibility” for our actions. If we make a mess we are expected to clean it up. At least for adults, always blaming external situational factors won’t do. But at the macro-economic capitalist level, this common sense expectation does not apply. Capitalist economists euphemistically call the consequences of capitalist profit “externalities” which means that capitalists are not responsible for the messes they create.

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