Examlex
When externalities are present, market prices do not reflect all the social costs or benefits of the activity.
Sociologists
Experts in sociology, the study of human societies, their interactions, and the processes that preserve and change them.
Individualist
A belief or social theory favoring freedom of action for individuals over collective or state control, emphasizing the importance of individual rights and responsibilities.
Authoritarian
Characterizing a mode of governance or political system in which individual freedom is held as subordinate to the power or authority of the state, with little political pluralism.
Globalization
A process leading to the increasing interconnectedness of different parts of the world through economic, cultural, technological, and political exchanges.
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