Topic summary
Externalities
Extracted from the Wikipedia article Externality.
Causes
Externalities often arise from poorly defined property rights. [All contents in this section are highly controversial and provide a one-sided, biased, poorly researched and ideologically laden view of externalities and the concept or property rights. This entire section needs to be redrafted and peer-reviewed, as its current contents is highly tendentious, elevating a simplistic libertarian understanding of property rights and truncating Coasian insights into supposed universal truths. The entire section is highly political, and indistinguishable from propaganda or ideological advocacy for a very narrow view of externalities and property rights that would appear highly problematic when submitted to any decently reviewed journal on economics or political economy.]