The Problem of Nonrivalrous Consumption in the Free Market

by Dave Gernhard A major aspect of public goods theory is the idea of nonrivalrious consumption. This refers to cases where an “individuals’ ability to consume a good or service is not diminished by allowing additional individuals to consume it.”[i] Some simple examples of this are movie theaters or sports arenas. The cinema can admit […]

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The Problem of Externalities in the Free Market

by Dave Gernhard An externality exists whenever the action of an individual brings added costs or benefits to another individual. Phrased differently, externalities exist when the participants of an action don’t reap all the costs or all the benefits of that action. An example of this can be the nocturnal bagpipe player who waits until […]

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School Vouchers: A Step Backwards?

By Elizabeth Imeson If indeed, "competition is merely the absence of oppression"*, than lack of competition is oppression. On the surface, the school voucher system seems appealing to those who are for the free market. But when further prodding is done, reality is discovered — "Under the voucher system public education remains public education, and […]

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Free Markets and the Third World

By Abhilash Samuel Private property, free enterprise, free market principles are principles that might sound routine to most Americans. However, the third world often receives this jargon with hostility. Nevertheless, as a resident of the third world for twenty-one years, I feel, putting these principles into practice could be revolutionary in the least. Today, America, […]

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Can Communism Work in a Perfect World?

By Dave Gernhard Often Christians will argue that Communism is good in theory but that in a fallen world it can never work. Yet Communism, that social theory where governments redistribute the wealth of the citizens, is not only bad in practice, it is sinful in theory. God has established an order in His creation […]

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Can private education be affordable for the poor?

By Elizabeth Imeson Privatizing government schooling is the ultimate goal for a free market economy in the area of education. Contrary to popular belief, private education is not more expensive than public education. Rather, it is typically less expensive. Compare the $10,000 (on average) that the government spends per student with the cost per student […]

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