High Social Cost of Chlordecone Use
In the case of chlordecone, the total social cost of its use in banana production significantly outweighed the social benefits. This social cost is the sum of the private costs borne by the plantation owners and the extensive external costs, such as long-term health damage and loss of livelihoods, imposed on the wider community.
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CORE Econ
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
The Economy 2.0 Microeconomics @ CORE Econ
Introduction to Microeconomics Course
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High Social Cost of Chlordecone Use
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In the context of the widespread chlordecone pesticide contamination in the French West Indies, the market price paid by plantation owners for the pesticide accurately reflected the total societal cost, which includes long-term health problems and environmental damage.
The continued use of the chlordecone pesticide in the French West Indies, despite known health risks and long-term environmental damage, demonstrates a situation where the market price of the pesticide failed to account for its true ________.
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High Social Cost of Chlordecone Use
Learn After
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In the context of chlordecone use on banana plantations, analyze the following economic impacts by matching each one to the correct category of cost.
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Arrange the following events and economic considerations in the logical order they occurred, demonstrating the progression from a private business decision regarding pesticide use to the realization of its massive social cost.
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The total social cost of using the pesticide chlordecone on banana plantations is calculated by adding the private costs borne by the plantation owners (such as the price of the chemical and labor) to the ______, which encompass broader societal impacts like long-term health damage and environmental cleanup.
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