To see how social costs
are calculated, consider the example of a cash purchase at a retail store.
The focal argument is that marginal social benefits, at equilibrium, must strictly exceed marginal social cost
, at equilibrium, in order to correct for historical failures and expected cumulative environmental disturbances away from the optimum social extraction path.
THE MOST detailed study into the environmental, energy and social costs
generated by auto manufacturers when making cars has dubbed General Motors the world's most profligate and Toyota cleanest and greenest.
'Wise, robust energy policy takes into account both the 'private cost' which is the monetary values of the fuel at the pump, and 'social costs
,' which is the monetary value of the social impacts of acquiring and using that fuel," Delucchi relates.
(2007) supplement this prevalence model with rough estimates of average social costs
per person-year spent in each model state based on Moore's (2006) estimates of social cost
Some might say that the worst case scenario is already silently unfolding in the form of gambling's social costs
. After communities are sold the economic snake oil of a casino, its operators build demand by recruiting new gamblers and enticing old gamblers to gamble more.
In the first recorded reference to the "Coase theorem," Stigler (1966: 113) writes The Coase theorem thus asserts that under perfect competition private and social costs
will be equal.
In the prior SOMEBODIES AND NOBODIES the author identified 'rankism' as a form of workplace abuse: his ALL RISE: SOMEBODIES, NOBODIES AND THE POLITICS OF DIGNITY continues the subject, exploring the personal, professional and social costs
of rankism and providing strategies for change.
Raising funds on American soil fulfills complementary goals by undermining the economy, introducing counterfeit and often unsafe or adulterated products and pharmaceuticals into the consumer market, and increasing the social costs
of substance abuse by feeding the demand for illicit drugs.
The notion of having prices and user charges reflect marginal social costs
in transportation has been around for many years.
The chapter on social costs
has very serious problems.
Civil liberty issues also have the potential to be considered as behavioral or institutional constraints on nongovernmental social costs
, S(e), such that they have a maximum instead of a minimum level.