4 ms·
Public goods are by definition non-rivalrous and non-excludable. How can they be gobbled? https://en.wikipedia.org/wiki/Public_good_(economics) https://en.wiki
by pjscott 6y ago
Public goods are by definition non-rivalrous and non-excludable. How can they be gobbled?
https://en.wikipedia.org/wiki/Public_good_(economics) https://en.wikipedia.org/wiki/Public_good_(economics)
(I'm not being pedantic here. The concept of a public good, in this technical sense, is a very important concept to have -- and it's specifically the kind of "public goods" the article was talking about, along with ideas for improving their tendency to be under-supplied. Goods that can be gobbled up by someone tend to be produced at closer to the optimum amount, since there's a less diffuse private incentive for their production.)
- tshaddox 6y agoPresumably the parent commenter is talking about providers (or potential providers) of public goods being gobbled up, leading to the classic economic problem that public goods tend to be under-produced.
- akyu 6y agoYea partially that, and also the fact that multiple projects used "public goods" language to bootstrap themselves and then pivoted into VC funded for profits.
- akyu 6y agoOk show me examples.
- AnimalMuppet 6y agoFrom the article pjscott linked: > Public goods include knowledge, official statistics, national security, and common languages. Additionally, flood control systems, lighthouses, and street lighting are also common social goods. How do you gobble up street lighting? How do you gobble up national security?
- westurner 6y agoPublic goods ... Welfare economics ... Social choice theory, Arrow's, Indifference curve: https://en.wikipedia.org/wiki/Indifference_curve https://en.wikipedia.org/wiki/Indifference_curve People do collectibles; commemorative plates.
- IAmEveryone 6y agoTragedy of the Commons