PHILOSOPHY – Rational Choice Theory: What are Public Goods? [HD]
In this video, Professor Jonathan Anomaly (Duke and UNC – Chapel Hill) discusses public goods, which are goods that are jointly consumed, so that they are available to everyone if they are available to anyone. Public goods often lead to unexploited gains from trade, and are frequently invoked to justify why we have a state to perform basic functions like defense, property adjudication, and the regulation of pollution.
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