What is the concept of public goods as a national common good?

The concept of public goods as a national common good refers to goods or services that are provided by the government for the benefit of the entire population. These goods are non-excludable, meaning that once they are provided, it is difficult to exclude anyone from enjoying their benefits. Additionally, public goods are non-rivalrous, meaning that one person's consumption of the good does not diminish its availability for others.

Public goods are considered a national common good because they are provided and funded by the government using taxpayer money. They are intended to promote the overall welfare and well-being of the entire nation, rather than benefiting only specific individuals or groups. Examples of public goods include national defense, public parks, street lighting, and basic infrastructure like roads and bridges.

The provision of public goods is justified by the concept of market failure. In a free market, private firms may not have an incentive to provide certain goods or services because they cannot exclude non-payers from enjoying the benefits. This leads to under-provision or complete absence of these goods in the market. Therefore, the government steps in to provide public goods to ensure their availability to all citizens.

Public goods play a crucial role in promoting social welfare and economic development. They contribute to the overall quality of life, enhance productivity, and create a more equitable society. However, the provision of public goods also poses challenges, such as determining the optimal level of provision, financing, and ensuring efficient allocation.