Time cost of a product – includes numerous factors like effect of pollution, the depletion of energy and raw materials, social costs, etc.
If these costs are internalized (added to the price), then the cost can be charged directly to the beneficiary of the degradation of environment.
It is better to make the user to pay for all its costs than to levy higher taxes.
An acceptable mechanism for price fixing must be found by the engineer with the help of the economist, scientist, lawyer and politician which could protect the environment through self-correcting procedures.
Good design practices may give better environmental protection without added cost.
