“Social costs… are all direct and indirect losses sustained by third persons or the general public as a result of unrestrained economic activities.”

—  Karl William Kapp

Source: Social Costs of Business Enterprise, 1963, p. 12. Cited in: M. Rangone & S. Solari (2012) "Southern European capitalism and the social costs of business enterprise". in: Studi e Note di Economia, Anno XVII, n. 1-2012, pp. 3-28

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Karl William Kapp 6
American economist 1910–1976

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