New Books in Critical Theory
Nick Romeo, "The Alternative: How to Build a Just Economy" (PublicAffairs, 2024)
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- True Pricing incorporates external costs into the price, giving consumers a clearer understanding of the true price of goods.
- Participatory budgeting grants citizens direct control over public spending, fostering civic engagement and empowering communities.
Deep dives
True Pricing: Adding External Costs to Products
True Pricing is a concept that aims to incorporate the external costs of a product into its price. For example, when buying an organic banana, the price would not only account for its organic certification but also the carbon emissions associated with transport and the working conditions of the farmers. By adding a surcharge to products that reflects these external costs, consumers gain a clearer understanding of the true price of the goods they purchase. This approach can be used by both consumers and companies as a tool for assessing the environmental and social impacts of their transactions. Furthermore, it has the potential to be employed as a policy tool by regulators and legislators to address the distribution of costs in the economy.
