Government Versus Private Ownership of Public Goods

Do Government Subsidies Increase the Private Supply of Public Goods?

We study three different models in which public goods are supplied by private contributions. In one of these models, tax-financed government subsidies to private contributions will definitely increase the equilibrium supply of public goods. In the other two models, government subsidies are neutralized by offsetting changes in private contributions. We explain why it is that these models lead to...

State versus Private Ownership

Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the "dynamic vitality" of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under social...

Public Supply of Private Goods

Private ownership of public heritage

In 2003, the world celebrated the fiftieth anniversary of the elucidation of the structure of DNA and, thus, the birth of molecular biology. As this period is now a part of human history, original documents from the founders of molecular biology are becoming increasingly important to scholars, and are being harshly fought over by public libraries and private collectors. Private correspondence, ...

Public Provision of Private Goods

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