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... > social science subjects > criminology and criminal justice > criminology > law and society > law and economics > externalities and social costs
... > social science subjects > politics and international relations > political science > law and courts > law and society > law and economics > externalities and social costs
... > social science subjects > politics and international relations > political science > ideologies > libertarianism > libertarianism and policy > law and economics > externalities and social costs
... > social science subjects > business and management > organization studies > organization studies encyc > approaches to organization theory > organizational economics > law and economics > externalities and social costs
... > social science subjects > business and management > organization studies > organization studies encyc > organizational economics > law and economics > externalities and social costs

Preferred term

externalities and social costs  

Definition

  • The economic ideas of externalities and social costs derive from the notion that the individual's pursuit of his or her self-interest does not always work to the best interests of society—that there are spillovers to other members of society resulting from the individual's actions. These externalities may be positive—such as with education (where society as a whole, as well as the individual, benefits from an individual's education)—or negative—as when goods production results in pollution. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Externalities and Social Costs]

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https://concepts.sagepub.com/social-science/concept/externalities_and_social_costs

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