Reports from the Economic Front

a blog by Marty Hart-Landsberg

The Story of Stuff: Electronics

Here is an excellent 7 minute, 47 second video on the production of electronics and why the industry’s strategy of “designing for the dump” is toxic for people and our planet.

This strategy highlights the economic concept of “market failure.”  Market failures occur when private producers are not forced to internalize all their production costs. Private producers go about their business producing to maximize profit.  But because private costs are less than social costs, we get market outcomes that actually lower social welfare.

For more information on the problem and responses to it, check out the story of stuff website here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: