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Re^12: "Practices and Principles" to death

by tilly (Archbishop)
on Mar 05, 2008 at 22:51 UTC ( #672305=note: print w/ replies, xml ) Need Help??

in reply to Re^11: "Practices and Principles" to death
in thread "Practices and Principles" to death

The big point that he is missing is what a public good is, or what the failure modes of free markets are. I've already suggested reading the book The Logic of Collective Action. That would be a good start.

If you read the book and disagree with it, any economist would be better than I for pointing out the supporting research. After you've come to accept the basic economic theory of public goods, come back to this thread, read my explanation of why not having near Earth space junk is a public good, and you'll instantly recognize that everything I said about why markets are unable to solve this problem is just basic economic theory.

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