The supposed freeloader problem of "public goods" is fatally flawed. The argument goes that government is needed to provide public goods that have free access to everyone because when there's no way to exclude non-payers from using a good nobody will profit off of its production, and so nobody will have the incentive to produce … Continue reading Public Goods is Fatally Flawed
Are Patents and Intellectual Property Necessary Components of an Economy?
I apologize for my hiatus. I have been extremely busy on a project for work that has consumed about 75% or more of my time lately. I appreciate you, my faithful readers, sticking with me. If you're a fan of economics, you won't be disappointed today. In response to the news of Martin Shkreli buying … Continue reading Are Patents and Intellectual Property Necessary Components of an Economy?