Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Why all public goods are not produced in the public sector?
1 Answer
- simplicitusLv 78 years agoFavorite Answer
Think about it. What makes a good public sector is not its production, but who is willing to pay for it, given the free rider problem
http://en.wikipedia.org/wiki/Public_good
http://en.wikipedia.org/wiki/Free_rider_problem
The government has no expertise in producing airplanes, and while Lockheed-Martin has expertise, it has no private customers that would buy fighters, but if the U.S. government were to place an order, Lockheed-Martin would be happy to build them.
Similarly for Rockwell International and the first generation of NAVSTAR (GPS) satellites, civil engineering specialists (Bechtel, Parsons Brinckerhoff, etc.) and major infrastructure projects here on Earth (bridges, tunnels, interstates, etc.)
Similarly for the fireworks paid for by governments but actually created by private pyrotechnical firms.