Why do we need common goods? (with some concessions)

Deliberately constructed public or common goods differ in what they require of participants in several different ways. The following are typical of their diversity:

1. To solve conflicts of interests that tend to produce disadvantageous results for all the participants if they fail to cooperate, but positive goods if the do.

2. To produce positive goods that benefit almost everybody, but which private enterprise cannot as easily produce.

3. To provide coordinated action to avert evils that are the result from unregulated action.

Examples and discussion:

1. A simple example: Jack and Jill from Leeds want to go on holiday together and enjoy each other’s company. But when it comes to making arrangements Jack says he wants to go to Prague, while Jill wants to go to the Costa Brava. Being sensible people the do not adopt the facile solution of tossing a coin to see who wins this year, with the promise that he or she will be given first choice next year. That simply equalises the misery of being dragged to a place one doesn’t want to go to.
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