But is there such an externality in the use of water? Is there some side effect that doesn't involve the use of water itself? Isn't the tragedy, the depletion of the supply, the problem? That isn't external.
> You can argue that some ongoing tragedy of the commons also has externalities.
sure, two of the preceding opinions [wikipedia, mit], argue that the tragedy of the commons is a specific type of negative externality, rather than the other way around. one [north carolina] gravitates more towards your interpretation.
the fundamental issue remains though: our conception of time and consequence is woefully limited in scope.
An important point, actually, if I understand correctly. Thanks.