[credit: Lu Guang; an elder covers his nose against the smell of the polluted Yellow River]
Wednesday, November 18, 2009
China, the Ugly
Want to know why our biggest trading partner and creditor can produce so many consumer products cheaply, flooding our market to the point of endangering the health of our own economy? Beside cheap labor, industrial production in China enjoys the freedom to dump and pollute where and when it likes. These graphic photos by a Chinese freelance photographer are examples of what economists hygienically refer to as "uncompensated externalities" which make extremely low costs of production possible. The Chinese waste their land because Americans buy their stuff in container ship loads. Think about Earth that the next time you head to Wal-Mart to do your Christmas shopping.