To review: Mass transit is not a pure public good, since it is perfectly excludable. It may be a natural monopoly, and it may be a club good, but that would only suggest rate regulation or at most public provision — not taxpayer subsidization. Those who use a subway line or commuter train — and [...]
Entries Tagged as 'Public Goods v. Private Goods'
Mass Transit and the Fallacy of "Hidden Benefits"
December 5th, 2008 · No Comments
Tags: Economics & Finance · New York City & State · Public Goods v. Private Goods
Corky Scalia's Inadvertent Libertarianism
November 13th, 2008 · 1 Comment
Attributed to Scalia in yesterday's oral arguments for Pleasant Grove City v. Summum:
"You can't run a museum if you have to accept everything, right?"
Right — Which is exactly why the government should not be running museums in the first place.
As for the outcome of this bizarre case, I think Chief Corky Roberts summed it [...]
Tags: First Amendment - Religion · First Amendment - Speech · Libertarianism · Public Goods v. Private Goods · Updates
High Fuel Prices Do Not Make Amtrak a Public Good
November 3rd, 2008 · 5 Comments
There's nothing particularly noteworthy about the (freshman economics) notion that as fuel costs (or other costs, such as airport delays and security theater) rise, people will increasingly switch to substitute modes of transportation:
The high cost of fuel, along with traffic and airport congestion, is drawing travelers back to trains for commuting and for travel between [...]
Tags: Public Goods v. Private Goods · Taxation & Fiscal Policy
Once Again: "Taxpayer-Subsidized" Does Not Equal "Free"
October 31st, 2005 · 2 Comments
If an employer wants to offer an employee a free flu shot, on the theory that absenteeism is bad for business, then good for them, and good for the employee. Private parties engaging in private transactions for mutual private benefit — neat-o!
But can someone please explain to me why the City of New York has [...]
