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Public Good

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Apollo and Marsyas

Public Good: --Apollo and Marsyas-- This is a painting made available on the internet for free and is technically considered the property of all taxpayers in St. Louis [1]

==Definition: Public Goods [2] [3] ==

  • Non-Rival in consumption: "Non-Rivalness means that my use of the good's services does not diminish the amount of its services available to other consumers."
    • Private Good: Chocolate Donuts -- there are less available for you if I eat one.
  • Non-Excludability: "it is not possible (or not profitable) to exclude non-payers from receiving the services of the good once it is provided to anyone. (i.e. the ozone layer)"
  • Example (from footnotes) "Consumption of a non-rival good can somtimes be metered and exluded, however. The British Broadcasting Corporation has been funded by a tax on television use enforced by television detector vans that actually roamed the streets electronically detecting television use (which conincided with the receipt of broadcast signals in the days before cable and satellite televsion). Detected users were fined heavily if they had not paid the television use tax." [4]


SourcesEdit

  1. S.L.A.M. St. Louis Museum of Art
  2. van Dun, F. 1984: "Public Goods" from the market. Economic Affairs (July-September), 28-31
  3. Schmidtz, D. 1991: The Limits of Government: An Essay on the Public Goods Argument, Boulder and Oxford: Westview Press: xviii, 197
  4. White, Lawrence. 1999" The Theory of Monetary Institutions. Malden, MA: Blackwell Publishers

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