Back to Course OutlinePrinciples of Microeconomics
Lesson· Public Goods and the Tragedy of the Commons· 1 of 9
Public Goods and Asteroid Defense
Alex TabarrokGeorge Mason University
While the probability of an asteroid hitting the planet is very low, its effect would be disastrous for all of us. So, who should pay for asteroid protection? A good like asteroid defense — a public good, meaning it’s nonexcludable and nonrival — has some unusual properties that challenge markets. We explore the curious case of public goods in this video and others in this section.