Definition of externality in English:

externality

noun

  • 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.

    • ‘But ASI forgets that economic activity produces externalities; real costs to third parties.’
    • ‘The first is to address negative externalities that aren't reflected in market prices.’
    • ‘Governments can set water prices but this will only achieve efficient prices if the environmental externalities can be measured accurately.’
    • ‘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.’
    consequence, result, upshot, outcome, out-turn, effect, repercussion, reverberations, sequel, product, by-product, spin-off, conclusion, end, end result
    View synonyms
  • 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.’
    • ‘Moreover, a theoretical link has been established between externality and the etiology of depression.’
    • ‘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.’
    • ‘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.’

Pronunciation:

externality

/ˌɛkstəːˈnalɪti/