Friday, December 10, 2010

Lighthouses and autopsies


Here's an NPR story about what is a "public good," which is defined for the story as: "something that we all need, that will make our lives better, but that the market will not and cannot provide."

For example:
... autopsies and lighthouses are useful examples of what economists call a public good — "something that we all need, that will make our lives better, but that the market will not and cannot provide," says Charlie Wheelan, who teaches public policy at the University of Chicago. More - with some intriguing comments.


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