A Quote by Eric Maskin
What we mean by an outcome will naturally depend on the context. Thus, for a government charged with delivering public goods, an outcome will consist of the quantities provided of such goods as intercity highways, national defense and security, environmental protection, and public education together with the arrangements by which they are financed.
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If I buy a car, I use the car, you don't, and the market for cars works pretty well. But there are many other sorts of goods, often very important goods, which are not provided well through the market. Often, these go under the heading of public goods.
Africa's success stories are delivering the whole range of the public goods and services that citizens have a right to expect and are forging a path that we hope more will follow.
I think that markets classically fail in cases where there are public goods that provide benefits that people cannot capture. The big debate is how big these public goods are, where they exist, things of that sort.
One of the gaps in our international development efforts is the provision of global public goods - that is, goods or conditions we need that no individual or country can secure on their own, such as halting global warming, financial stability and peace and security.
How do we ensure in the case of public goods that they are provided at all, and that they are provided at the right level, taking into account citizens' preferences?
The plain, unvarnished truth is that public education is a shoddy, fraudulent piece of goods sold t to the public at an astronomical price. It's time the American consumer knew the extent of the fraud which is victimizing millions of children each year.
Modern 'public health' initiatives have moved well beyond what could reasonably be classified as public goods. Today, government undertakes all sorts of policies in the name of public health that are aimed at regulating personal behavior.
The United States will continue to be number one, and I do not see any country or group of countries taking the United States' place in providing global public goods that underpin security and prosperity. The United States functions as the world's de facto government.
Privatization of assets that most of us consider public goods - like airports and highways - has a long, often-uncontroversial history.
In effective, sustained citizen action, people learn the skills of public life with which to act effectively. "Commons," or the common wealth-the public goods that are objects of sustainable public action-become not only occasions for collaboration by invaluable sources of citizen education in their own right because they are the occasions for learning such skills.
Do not worry! Earthly goods deceive the human heart into believing that they give it security and freedom from worry. But in truth, they are what cause anxiety. The heart which clings to goods receives with them the choking burden of worry. Worry collects treasures, and treasures produce more worries. We desire to secure our lives with earthly goods; we want our worrying to make us worry-free, but the truth is the opposite. The chains which bind us to earthly goods, the clutches which hold the goods tight, are themselves worries.
Three sorts of goods, Aristotle specified, contribute to happiness: goods of the soul, including moral and intellectual virtues and education; bodily goods, such as strength, good health, beauty, and sound senses; and external goods, such as wealth, friends, good birth, good children, good heredity, good reputation and the like.
If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.
The public is the tribunal before which all art is judged - not the critics or the academies. The public is the artist's only patron, and has certain fundamental rights. It will submit to education, and will respond to suggestion, but it will not be bullied.
We will never meet our own expectations of public education unless the federal government is willing to play a consistent, long-term role; unless education truly becomes a matter of national policy, not just a matter of national rhetoric.
The Environmental Protection Agency's first-ever limits on carbon pollution from power plants will create clean- energy jobs, improve public health, bring greater reliability to our electric power grid, bolster our national security, demonstrate the United States' resolve to combat climate change and maybe even reduce our utility bills.
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