ePublic Goods. Is the internet making new public goods?
Keywords: Public Goods, Internet, Media, Copyright, Market Failure, File Sharing, ePublic Goods An Explanation of the Mass Failure in the Market: the Internet – the Creator of ePublic Goods First published: October 9, 2010 Abstract Media and entertainment industries are declining; profitability is down due to ‘freer computer access. Is the internet producing ‘Public goods’ from what were Private goods? With respect to these goods and the Internet, the assumption used to classify ‘Private goods' and Public goods in an economy (the degree of excludability and rivalry) was analysed, and the respective industries were tested for being Public Goods. It was concluded that these goods within the entertainment/media industries are slowly being repositioned from what is termed 'private' or 'club'/'congestion' goods to their extreme opposite, public goods. The ‘free rider problem’ of Public Goods has become the ‘free copy problem’ with respect to t...