This is about us people. Or rather, about what we have got ourselves into.

Below is a view on what that is.

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Here the word refers to prices of goods and services being too low to reflect environmental and social costs caused by the making and use of these goods and services.

  • To correct for underpricing, prices can be raised by imposing new or higher taxes on product-services. This makes sense under the condition that taxes are not evaded and revenues are generated. And that these revenues are used to pay for these environmental and social costs, for example by fixing damage or injustices related to consumption and production, the latter including the supply chain. Revenues can also be used to prevent further harm from being done, and to support research and development of better, alternative products and production processes.
    Note that higher prices of harmful products and services may lead to a fall in demand for these product-services and less harm being done, but the result can also be less tax revenues generated. Another possible consequence is a fall in income of those benefitting from sales. These people might need to be financially compensated or supported otherwise. Finally, higher prices may also imply that the products involved can be consumed only by the rich.
  • Question: given that the rich are responsible for the bulk of all greenhouse gas emissions due to their consumption, can you justify that the rich are taxed LESS than average?


Prisoner's dilemma

Imagine you are thrown in prison, you and several partners in crime, each in a separate cell, isolated.

The police wants you to confess and tell about everyone's role. The deal is a lower sentence.

You are sure that evidence is absent and that if nobody talks, everybody walks.
But if one or more take the deal, the others get the full sentence.

What are you going to do?

The point is... the deal offered to you as a free person is an underpriced plane ticket, fashion, electronics or other underpriced stuff you feel you need.

The price of these items does not include the costs of for example land and wage theft, climate change and more. These costs are borne mostly by poor people, people in developing countries and future generations.

What are you going to do?