I followed up argument that commonly understood and maintained system of property rights for a society is a public good for that society, facilitating security, production and trade. Following up, I argued that the gains from this system are not well realized when private individuals or their employees are the security forces maintaining the system ( Read more... )

Remember when I was talking about property rights? About how much they vary in different societies, across space and time, though we tend to think of the ones we're used to as somehow "natural ( Read more... )

There are some goods and services that markets do not provide efficiently nor in sufficient quantity, that provide enormous benefit to the general population. Those are called public goods and services ( Read more... )