pesticides. An overall economic evaluation of the externalities for the current pesticide use levels shows that external costs …

During the 1950s and 1960s, many economists were convinced that externalities were a cause of “market failures … economist, James Buchanan, who systematically tried to show that externalities should not be viewed as a problem for market … of market mechanisms and private arrangements in presence of externalities. By adopting an historical perspective, we are …