Meaning of externality in English:


Pronunciation /ˌɛkstəːˈnalɪti/

nounplural noun externalities

  • 1Economics
    A consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices, such as the pollination of surrounding crops by bees kept for honey.

    ‘The first is to address negative externalities that aren't reflected in market prices.’
    • ‘But ASI forgets that economic activity produces externalities; real costs to third parties.’
    • ‘Network externalities occur when markets characterized by network effects fail to allocate resources properly.’
    • ‘In contrast, standards and network externalities do not affect biotechnology industry dynamics.’
    • ‘Governments can set water prices but this will only achieve efficient prices if the environmental externalities can be measured accurately.’
    consequence, result, upshot, outcome, out-turn, effect, repercussion, reverberations, sequel, product, by-product, spin-off, conclusion, end, end result
  • 2Philosophy
    mass noun The fact of existing outside the perceiving subject.

    ‘It is desire that opens up the moment of externality, or the reaching beyond the limits of the subject.’
    • ‘This fracturing of the sovereign self signals the demise of that spectacular and unique persona and the displacement of regal externality by what Francis Barker has called ‘an interior subjectivity.’’
    • ‘And there is a particular kind of negative externality.’
    • ‘Moreover, a theoretical link has been established between externality and the etiology of depression.’
    • ‘Furthermore, Bourdieu speaks of habitus, a social space and a disposition to act in certain ways, which is the result of the internalization of externality and the externalization of interiority.’