Yes, it requires picking winners among basic science research proposals, but there isn't an elegant alternative available as there is with the problem of negative pollution externalities.
Since such a territory typically has a government with the interests of the whole country in mind, the negative pollution externalities are internal to a controlling authority, facilitating the passage of regulations cutting pollution or the negotiation of deals to accomplish same.
Everyone knew there were pollution externalities.
Misguided decisions like these are made because the costs of negative externalities (external consequences of the company's activities), such as pollution or abusive labor practices, are often borne by society, to the benefit of shareholders.
In contrast, extraction of natural capital from pre-history includes a variety of negative externalities (pollution, climate change, and earthquakes due to fracking).
The impact, especially in cities, in reducing the negative externalities of pollution would obviously also be profound.
If there are negative externalities, like pollution, we need government to curtail them.
In The Second Machine Age Brynjolfsson and McAfee explore, without necessarily endorsing, Pigouvian taxes, which assign costs to negative externalities such as pollution, and negative income taxes, in which individuals with little or no income receive money from the government.
The massive agricultural intensification wave during the 1950s and 1960s also caused growing negative environmental externalities such as soil and water pollution in both East and West Germany (Thoss, 1988; Töpfer, 1990; Meißner et al., 1994; Bauerkämper, 2004).
Those investors own shares in almost all companies, and are, therefore, concerned with negative externalities such as pollution.
Although transportation is a means to foster the prosperity of societies, it inevitably is coupled with negative externalities such as pollution, accidents, and human casualties.
