quinta-feira, maio 27, 2010

Private Provision of Public Goods

The Private Provision of Public Goods por Donald Boudreaux:
Nobel laureate economist Elinor Ostrom’s important work shows that people are very good at using voluntary action to solve problems that economics textbooks insist require the forceful hand of government. Producing “public goods” .... often promises large enough gains to stir the creative juices of people—who, given enough freedom of action and security of rights, then figure out how to cooperate to provide them. This cooperation often takes different forms from what we witness in markets for typical private goods (such as shoes).

.... Sometimes it is achieved by firms seeking monetary profit, while other times it is achieved by people cooperating for gains that are real but not monetized or exchanged in conventional markets.
Também interessante, ’Market Failure’.

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