Public Good
Public good may refer to: * Public good (economics), an economic good that is both non-excludable and non-rivalrous * The common good, outcomes that are beneficial for all or most members of a community See also * Digital public goods Digital public goods are public goods in the form of software, data sets, AI models, standards or content that are generally free cultural works and contribute to sustainable national and international digital development. Use of the term "digit ...

Public Good (economics)
In economics, a public good (also referred to as a social good or collective good)Oakland, W. H. (1987). Theory of public goods. In Handbook of public economics (Vol. 2, pp. 485-535). Elsevier. is a good that is both non-excludable and non-rivalrous. For such goods, users cannot be barred from accessing or using them for failing to pay for them. Also, use by one person neither prevents access of other people nor does it reduce availability to others. Therefore, the good can be used simultaneously by more than one person. This is in contrast to a common good, such as wild fish stocks in the ocean, which is non-excludable but rivalrous to a certain degree. If too many fish were harvested, the stocks would deplete, limiting the access of fish for others. A public good must be valuable to more than one user, otherwise, the fact that it can be used simultaneously by more than one person would be economically irrelevant. Capital goods may be used to produce public goods or services th ...
[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  

Common Good
In philosophy, economics, and political science, the common good (also commonwealth, general welfare, or public benefit) is either what is shared and beneficial for all or most members of a given community, or alternatively, what is achieved by citizenship, collective action, and active participation in the realm of politics and public service. The concept of the common good differs significantly among List of philosophies, philosophical doctrines. Early conceptions of the common good were set out by Ancient Greece, Ancient Greek philosophers, including Aristotle and Plato. One understanding of the common good rooted in Aristotelianism, Aristotle's philosophy remains in common usage today, referring to what one contemporary scholar calls the "good proper to, and attainable only by, the community, yet individually shared by its members." The concept of common good developed through the work of political theorists, moral philosophers, and public economists, including Thomas Aquinas, ...
[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]