Social Cost

Inequality has been recognised as an increasingly pressing problem of our times. Currently, citizens and consumers have little information about how the money they spend is distributed among those involved in the conception, production and sale of the goods and services purchased. A recent op-ed suggests empowering them, by providing information on such inequalities at the point of purchase. Armed with this information, citizens can weigh the monetary costs of a product against its “social cost”, and incorporate these "social costs" into their purchasing decisions.