Rita Hammer, chapter 3, question 4

Wheelan starts off by talking about negative externalities in chapter 3. I found it interesting and worrisome that "markets alone fail to make us better off when there is a large gap between the private cost of some utility and the social cost." The statement says that everyday by driving and manufacturing we are contributing to an issue that will never fix itself. This creates a need for ideas that can reverse the damage we contribute to every minute of every day. As I enter college, this issue alters decisions that I will have to make when deciding what career path to go down. Someday the issue of carbon dioxide emissions, as well as many other negative externalities have to be fixed; however, it isn't until the gap between private cost and the social cost of behavior gets so high and threatening that people actually get the incentive to fix the problem. Economics proves that negetive externalities aren't going to fix themselves, leaving society with a demand for innovation. Why don't we fix the problem before it becomes impossible or irreversible?