Historical exploitation of natural resources for profit does not need to be a requisite for economic growth. If viewed through the lens of social costs, the economic system that results in environmental degradation for financial benefit often incurs Negative Production Externalities, where the producer does not bear the full long-term consequences of their actions. This results in a Marginal External Cost, which is a long-term cost that is imposed on society as a whole. To mitigate this, shifting to Positive Production Externalities would place the cost of future environmental damage at the time of production, potentially leading consumers to make purchases that have lower costs due to the smaller Marginal External Cost that is reflected in the current purchase price.
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