Should There be Profit in Knowledge?

Economists call goods that are non-rival and non-excludable “Public Goods.”  Importantly, this category of goods challenges the neat formula which underpins our capitalist system: market equilibriums are established by simple supply and demand  curves signaled by prices in the market. So how do you figure out market demand for a “Public Good?”

BY GEOFFREY W. SMITH
JANUARY 2, 2025

Should There be Profit in Knowledge?

Economists call goods that are non-rival and non-excludable “Public Goods.”  Importantly, this category of goods challenges the neat formula which underpins our capitalist system: market equilibriums are established by simple supply and demand  curves signaled by prices in the market. So how do you figure out market demand for a “Public Good?”

BY GEOFFREY W. SMITH
AUGUST 29, 2024

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