The document discusses externalities, which are costs or impacts of economic transactions that are borne by parties not directly involved in the transactions. It provides examples of negative externalities like pollution and climate change caused by industries like fossil fuel production and industrial farming. While the free market only considers direct supply and demand factors in pricing goods, it does not account for these external costs to society and the environment. The document questions whether governments should impose taxes to make prices truly reflect all costs, including externalities, and who should pay the costs of externalities currently not priced into goods like gasoline.