Tag: Free Rider Effect
Voluntary Provision of a So-called Public Good

For the past few days, several men and a fair-sized tractor front-end loader have been working on the beach road where I live north of Xcalak. None too soon, either, as the potholes have become immense in the past year or so since the last repairs. A gringo neighbor down the road organized this...
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Help Wanted: Economists Who Understand the Economy

Ronald Coase, the 101-year old, Nobel Prize-winning economist from whose essay, “The Lighthouse in Economics” the Independent Institute takes its logo, is at it again: tweaking his fellow economists for being out of touch with reality in a new piece in the December 2012 Harvard Business Review (HBR), “Saving Economics from the Economists.” Economics...
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Health Insurance vs. Healthcare: When Socializing Risk Pays Off

Do you care whether I have health insurance? If you do care, do you also care if I have other kinds of insurance? While you’re thinking about the initial question, here are a few follow-up questions: Do you care whether I have life insurance? What about disability insurance? Homeowner’s insurance? Auto casualty insurance? Auto...
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Happy Birthday, Ronald Coase and Thank You for Our Logo!

Ronald H. Coase, winner of the 1991 Nobel Prize in Economic Science, turns 100 today, still publishing. As The Economist magazine pointed out in its recent tribute to his work on firms: He has long chided his fellow economists for scrawling hieroglyphics on blackboards rather than looking at what it actually takes to run...
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