Cost-Benefit Balance (2)

If the economy is producing Q1 –

• the Human Economic Costs of that production is P1.
• the Human Economic Effective Value of the consumption of Q1 is P2.
• Humanity would be better off if the economic output was reduced to Q*.

(The Effective Value is costing too much!)

The Great Challenge –

How to achieve that optimum adjustment of economic output without resorting to coercion?

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