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Decisions Have Side Effects
- Externalities are side effects your choices impose on bystanders who aren't part of a transaction.
- Recognizing externalities reframes individual choices as social problems requiring coordination or policy.
Porterville Resident Loses Household Water
- Karen Hendrickson lost access to her household well during California's drought and relied on portable water stations.
- Neighbors still access water via deep wells while Karen and others were left without running water.
Farmers Drill Deep For Profitable Nuts
- Mark Wadi runs a lush pistachio farm atop the shared aquifer while many nearby wells dry up.
- He drilled eight new wells costing about $2 million to keep producing pistachios.