Saturday, 16 January 2010

Asteroid Deflection......


........ is a brilliant example of a public good. I make this assertion based on the following:
  • its scale : it's not like street lighting or a lighthouse, which is fairly localised. Oh no, asteroid deflection applies to the whole of humanity
  • its free-riding issues are worldwide
  • it is non-excludable and it is non-rivalrous
  • best of all, it is not provided by government nor by the market, so it shows that public goods are defined by their features and not be their provision.
More here

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