[extropy-chat] Re: Collateral public good

[Robin Hanson]

On 12/31/2004, Mike Lorrey wrote:
> > Economists are not consistent in their use of the phrase "public
> > good". Hal is correct using a broad definition, and Mike is correct
> > using his (unusual) narrow definition.
>
>Thanks, Robin. Now, from my reading of Blackwell's Commentaries on the
>Law, I understand that there are rights and wrongs of both people and
>things. If there does exist a public good, shouldn't there also be a
>public bad?

Of course.  You just flip a sign in the model.



Robin Hanson  rhanson at gmu.edu  http://hanson.gmu.edu
Assistant Professor of Economics, George Mason University
MSN 1D3, Carow Hall, Fairfax VA 22030-4444
703-993-2326  FAX: 703-993-2323