1978 | OriginalPaper | Chapter
Public Goods, Efficiency and Environmental Statistics
Author : R. U. Ayres
Published in: Econometric Contributions to Public Policy
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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According to the announcement for this conference the general subject area of this paper is ‘Environmental Policy and Public Goods’. The term ‘public good’ is, of course, not a synonym for ‘public welfare’, but rather an antonym for ‘private good’. And what is a ‘good’? In the sometimes peculiar jargon of economics, the word connotes nothing of inherent virtue: basically, a ‘good’ is anything tangible that conveys a ‘service’ to a ‘consumer’. A consumer, by the way, does not physically ‘consume’ anything except air, drinking water and food. For the rest, consumption is essentially a process of exhausting the utility of goods by extracting services from them. The material object, itself, is discarded.