In the News
Externalities and Market Failure - The Toxic Legacy of 3M's 'Forever Chemicals'
28th December 2022
Chemical giant 3M has announced that it is going to stop the manufacture of so-called forever chemicals. However, the damage may already have been done.
Manufacturing giant 3M to stop making 'forever chemicals' https://t.co/j2Fa0RlyNP
— BBC News (World) (@BBCWorld) December 20, 2022
In this instance, an Antwerp family believe that toxins in the water and soil close to 3M's Antwerp factory have already compromised their health and that 3M has done little to clean up the damage, as promised. This is an example of a horrific human cost of pollution, a very real instance of how negative externalities adversely impact lives.
The fight over a tunnel project in Belgium has revealed extraordinary levels of toxins in the water, soil and people near a 3M factory https://t.co/1Tdk046mlC
— Bloomberg (@business) December 23, 2022
- Economics
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- In the News
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- Negative externalities
- Demerit goods
Graham Watson
Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.
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