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Subject:
HES: QUERY -- history of public goods
From:
[log in to unmask] (Rod Hay)
Date:
Fri Mar 31 17:18:27 2006
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----------------- HES POSTING ----------------- 
 
I have heard this argument before Barkley going back to Coase in about 
1960. 
But the result depends upon all income effects being zero, (or identical). 
I 
think that the class of  goods that have no joint consumption aspects is 
very 
small. Even eating alone in your room has an impact on others' utility. The 
fully defined system of property rights for which the libertarians strive 
is 
impossible. 
 
Rod Hay 
 
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