Question: Why the market tends to fail when dealing with environmental issues? It is said many externalities in environmental economics have features that are similar to

Why the market tends to fail when dealing with environmental issues? It is said many externalities in environmental economics have features that are similar to that of public goods. We know that the provision of some public goods such as lighthouse can be solved through the market rather effectively. Why is it more difficult to solve the provision of many environmental good such as clear air through the market?

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