To clarify in more general way: Earth is bad in coordination in a sense that you can’t expect that if industrial producer dumps toxic waste into environment, special government agency will walk in with premise: “hey, you seem to destroy environmental commons to get profits, let’s negotiate point on Pareto frontier in space of environmental commons-profits which leave both of us not very upset”.
To clarify in more general way: Earth is bad in coordination in a sense that you can’t expect that if industrial producer dumps toxic waste into environment, special government agency will walk in with premise: “hey, you seem to destroy environmental commons to get profits, let’s negotiate point on Pareto frontier in space of environmental commons-profits which leave both of us not very upset”.