Amartya Sen’s Public and Private Goods
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October 1, 2015
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For example, Sen said a bacteria free environment is an example of a public good because we all can benefit from fresh air.
Lastly, Sen’s conclusion tells us that the failures involving production and organization with public goods are irrelevant. Firstly, the failures of assigning available resources (resource allocation) with “public goods or involving strong externalities” are irrelevant because public goods are still present...
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Firstly, the failures of assigning available resources (resource allocation) with “public goods or involving strong externalities” are irrelevant because public goods are still present. Furthermore, the issues involving production having many costs that may be unfeasible. Also the workers that have contributed to the success of the whole business may not be reflected, yet there can be important public goods...
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