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The market generally fails <\/strong>when it comes to taking into account the costs of the environmental impacts of our economy, as well as the value (not only economic<\/a>) of nature and the services<\/a> that it provides us . An old familiar dilemma \u2013 although key to understanding the unsustainability of our system \u2013 is based on the inability of the market economy to integrate and account for externalities<\/a><\/strong>. A negative externality is understood as the costs not assumed by a person or company, while these are transferred to others or to society in general. In other words, negative externalities are those activities that affect others without the precursors of these paying for the damage done<\/strong>.<\/p>\n Externalities are more common in the presence of public goods<\/a><\/strong> \u2013 those goods that are available to all and of which use by one person does not subtract from use by another. Examples of public goods in the environmental field include clean air and soil, biodiversity, or climate stability<\/strong>. Just as anyone can have access to and enjoy public goods, they can also be contaminated, depleted or affected.<\/p>\n The big problem with our system<\/strong> is that the market economy does not integrate or account for negative externalities related to public goods. Externalities are, therefore, a system failure<\/strong>, since they allow people or companies to benefit at the cost of harming others, or society in general.<\/p>\n Over the last decades, mechanisms and solutions have been created<\/strong> to address the problem of externalities (see examples<\/a>). These, however, have not been shown to be effective<\/strong> in creating a more environmentally sustainable economy. The difficulties of carrying out these solutions successfully are several, where it is usually difficult to determine who is responsible for a negative externality (who has caused the damage?), the ownership of the damaged public good (who owns it?), or simply the measurement and valuation of the good itself.<\/p>\n