Externalities

It's intuitively obvious to the most casual observer (that's a McElhone-ism) that every economic process/policy/execution generates externalities. What, pray tell, are such? Simply put, economic consequences not directly considered by the actor or others. Some are positive, others negative. When generated by the private sector, mostly negative. When generated by the public sector (in healthy democracies, to be concrete), mostly positive. The Covid vaccines is a recent example.

The archetypal example of the former is the tannery dumping tailings in the local holler's crick. The cost to the tannery is about 0; just the piping needed to get the shit away from the property. The externality is the cost, immediate and long term, borne by those poor folks who use the water in that crick. Much of the cost is non-monetized, since the poor folks haven't the moolah to substitute processed water for the filth in the crick. They get cancers and such, never get medical services, and die young. The tannery avoids all those costs.

The Norfolk Southern derailments are a glaring example, no surprise there. What is surprising is the swift turnaround of those Red county residents who demand that a private sector actor make them whole for the externality of lost property value.

As with any real estate purchase, an appraisal and tests for safety would need to be done for homes in East Palestine. But like Stewart, Warren said it is not yet clear who will pay for the additional tests on water and ground contamination for that peace of mind.

"For all we know, the county might cover it, or the EPA or Ohio state government. That remains to be seen," he said.
[so, may be the Damn Gummint will rescue them from NS? my emphasis, of course]

May be oughtaBePresident Nicolae Ceausecu will take up the slack? After all, he declaims wildly that he is a Populist For The People!! What would be more Populist than aiding your Rabid Base with moolah?

I wonder, too, whether MTG's New Confederacy Gummint would demand NS make whole the citizens of such a Red county?? Enquiring minds need to know.