期刊名称：Reason Papers : A Journal of Interdisciplinary Normative Studies
印刷版ISSN：0363-1893
出版年度：2007
卷号：29
页码：123-40
出版社：Reason Papers
摘要：Externality theory is used to claim that markets fail. It is claimed thatbecause of the existence of externalities, the market will provide too much ortoo little of a particular good, and that the government must step in and usetaxes, subsidies, restrictions on the provision of the good, or take over theproduction of the good in order to remedy the situation. However, theseconclusions do not hold if one performs a comprehensive analysis ofexternality theory. In this essay, I show economically, politically, andepistemologically why externality theory does not provide a valid critique ofthe market.1In fact, I show why the market actually succeeds with respect toexternalities. Many will be familiar with the economic and politicalarguments I present; however, by revealing the logical implications ofexternality theory, I provide powerful criticisms of this theory with which feware familiar. Furthermore, I go well beyond politics and economics byproviding a fundamental epistemological analysis of externality theory. Thislatter helps to provide the reader with a complete understanding of the natureof externality theory
