About: Public bad

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A public bad, in economics, is the symmetrical opposite of a public good. Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare. Whereas public goods are typically under-provided by decentralized decision making (the market), public bad will generally be over-provided, since the parties generating the public bad do not account for the negative effects (or externality) imposed on others. One possibility to mitigate the existence of public bad is the intervention of a third party, typically the state.

Attributes	Values
rdfs:label	Public bad (en)
rdfs:comment	A public bad, in economics, is the symmetrical opposite of a public good. Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare. Whereas public goods are typically under-provided by decentralized decision making (the market), public bad will generally be over-provided, since the parties generating the public bad do not account for the negative effects (or externality) imposed on others. One possibility to mitigate the existence of public bad is the intervention of a third party, typically the state. (en)
foaf:depiction
dct:subject	Public sphere Welfare economics
Wikipage page ID	217109 (xsd:integer)
Wikipage revision ID	1114837782 (xsd:integer)
Link from a Wikipage to another Wikipage	Amortization (accounting) Biodiversity loss United States Environmental Protection Agency Seven generation sustainability Public sphere Welfare economics Air pollution Economics Public good (economics) Product (business) Habitat (ecology) Measuring Social cost Externality Pesticide Green economics Hidden cost Public benefit
sameAs	Public bad Public bad Public bad
dbp:wikiPageUsesTemplate	dbt:More_citations_needed dbt:Reflist
thumbnail	wiki-commons:Special:FilePath/Pollution_de_l'air.jpg?width=300
has abstract	A public bad, in economics, is the symmetrical opposite of a public good. Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare. Whereas public goods are typically under-provided by decentralized decision making (the market), public bad will generally be over-provided, since the parties generating the public bad do not account for the negative effects (or externality) imposed on others. One possibility to mitigate the existence of public bad is the intervention of a third party, typically the state. In "green economics", it is a good that produces socially undesirable results (or an externality in standard economics). Most "green economists" advise measuring such impacts back to the present from the seventh generation. Thus in the golf course example, both the recreation and the negative impacts from deforestation, associated habitat and biodiversity loss, and pesticide toxicity would be estimated across those generations and some amortization applied to determine whether the golf course was a public benefit or a public bad from the point of view of that seventh generation. Green economists argue that the costs of public bads are hidden as externalities from the businesses that cause them — meaning the market is not working correctly. The legal challenge is to create a system that takes into account these costs. The United States Environmental Protection Agency is an example of an attempt to make sure the costs of public bads are taken into account, although some groups on the right and left have criticized the value of its efforts. (en)
prov:wasDerivedFrom	wikipedia-en:Public_bad?oldid=1114837782&ns=0
page length (characters) of wiki page	2288 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Public_bad
is Link from a Wikipage to another Wikipage of	Index of economics articles Economics Public good (economics) John C. Goodman Service economy Social cost Solid waste policy of the United States Outline of economics
is foaf:primaryTopic of	wikipedia-en:Public_bad

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