Incomplete accounting for costs is driving climate change and imperiling us all. Economist Arthur C. Pigou was far ahead of his colleagues in the 1920s when he pointed out that the “market” would fail unless it included all costs. Pigou’s discussion of external (or uncounted) costs was about damage caused by wild fires started by sparks from locomotives (Pigou, 1929). Today wildfires caused by equipment failures of utility companies lead to catastrophic wildfires. In 2018 for example, Pacific Gas and Electric equipment apparently started the Camp Fire that destroyed the town of Paradise, cost 85 lives and led to $17 billion dollars in damage. These may be “external” costs—but they are very real and someone does pay them. Improved accounting that includeds these external costs is a useful tool in the effort to reduce the expected adverse impacts of climate change.