This is hugely important and not thought about enough.  The reason that the “free market” folks have been able to have any pretense for claiming that their vision is efficient or effective is that they ignore externalities.  They calculate costs and benefits in a closed environment: as though the corporate books have all necessary data.  They benefit from all of this non-calculated cost; cost that the government is left holding.  That is why they can paint  government as bad because govrenment comes to the taxpayer with the bill for the crap that the corporation gets away with.  The corportation looks good because they avoind the drag on their books and the government looks bad because they are the holder of last resport.  No one likes to have topay for something that they didn’t incur and the corporations are excellenmt at avoiding paymrnt even if the causation isn’t so attenuated as to make legal responsibility unlikely.


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