Global public good

From Wikipedia, the free encyclopedia

A global public good is a good that has the three following properties :

• It is non-rivalrous. Consumption of this good by anyone does not reduce the quantity available to other agents.
• It is non-excludable. It is impossible to prevent anyone from consuming that good.
• It is available worldwide.

This concept is an extension of Samuelson's notion of public goods to the economics of globalisation.

The theoretical concept of public goods does not distinguish with regard to the geographical region in which a good may be produced or consumed. However some theorists (such as Inge Kaul) use the term global public good to mean a public good which is non-rival and non-excludable throughout the whole world, as opposed to a public good which exists in just one national area. Knowledge is a canonical example of a global public good.[Joseph E. Stiglitz, Knowledge as a Global Public Good in Global Public Goods, ISBN-13: 978-0-19-513052-2</ref>.]

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[edit] See also

• François-Xavier Verschave

Types of goods public good - private good - common good - common-pool resource - club good - anti-rival goods rivalrous good and non-excludable good complement good vs. substitute good free good vs. positional good (non-)durable good - intermediate good (producer good) - final good - capital good inferior good - normal good - ordinary good - Giffen good - luxury good - Veblen good - superior good search good - (post-)experience good - merit good - credence good - demerit good - composite good