Embracing Externalities

How corporations will adapt to new forms of feedback

The government can require warnings which are straightforward and essentially uncontroversial, but they can't require a cigarette pack to serve as a mini-billboard for the government's antismoking campaign.

—Floyd Abrams, a lawyer for Lorillard Tobacco Company, regarding a federal lawsuit challenging the constitutionality of tobacco regulations

It was just after dusk on a warm night in Bangkok when the first in a mile-long flotilla of resplendent, dragon-headed boats made its way down the Chao Phraya River and past a party of fifty-two guests. Then, conversations that had been animated fell still as an ethereal noise reached the shore and gradually resolved ...

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