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Economics

Public Goods and the Free Rider Problem

Quick fact

Economists define public goods by two traits: non-excludability (you can't stop non-payers) and non-rivalry (one person's use doesn't reduce it for others). Classic examples include streetlights and national defense.

Why this is interesting

Ever enjoyed a public park, clean air, or national defense without paying directly? Why do we rely on governments for these, and why can't the market just provide them?