Many in government and the business community treat economics as a complete theory of governing society. It is only a theory of those things which can be monetized for the market. Thanking now after the election, climate change will probably move again into the forefront of concern. States and corporations externalize and push out, what they can in order to simplify their operations and cut costs. What they push outside their own borders must be dealt with by others - who often will default to benign neglect - let the stuff accumulate outside fixed borders. What the US did by outsourcing, meant pollution would be produced in China and the US could claim to be lowering pollution.
States have the problem that, if they cut something, less of that someyhingwill be produced internally, and the prices of what's left will go up. The result is that that particular state will become less competitive in the world market. The result is that the large problems involving the world cannot be dealt with at the local level. Even large collaborative, groupings like China and Russia are under pressure from competition by other states that limit their capacity for reductions in economic activity. Even large collaborative, groupings like China and Russia are under pressures from competition by other states that limit their capacity for reductions in economic activity.