Is a negative externality just a tort in an under-developed property system?

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Submitted ⁨2⁩ ⁨months⁩ ago by redditmirrorbot@hoot.goldandblack.xyz to GoldAndBlackReddit@hoot.goldandblack.xyz


link to original reddit post by /u/subsidiarity

It seems true at least for pollution that problems in the property system convert offenses from torts to externalities. If you dump toxins in a river when it is owned that is a tort, when it is managed by government it is an externality.

Does this model extend to most or all externalities?