On Externalities

When understanding capitalism and corporations, there is a key concept to grasp, and that is the concept of externalities.  From businessdictionary.com, the definition of an externality is:

Activities and conditions whose benefits (called external economies) and costs (called external diseconomies) are not reflected in the market price of goods and services. The primary feature of externalities is that one entity's action directly or indirectly changes the options available to other entities. For example, widespread benefits of an invention (such as electricity generation) accompanied by the widespread hazards of pollution (such as destruction of ozone layer). Externalities are an important consideration in cost-benefit analysis.

Common examples of externalities are:

Pollution from coal-burning
Second hand smoke
Health risks associated with fast food
Cutting pensions or layoffs
Unstable economy due to shady business practices (see 2008)

There are of course positive examples of externalities as well:

Lower crime rate due to quality education
New medicines from scientific experiments
Higher land values as a result of community service activities

The main question to ask here is: how many negative externalities are you willing to accept as a consumer and a member of society?  Is there anything you or we could do to mitigate these externalities?