ePublic Good (Public Good) Prediction comes true in New Zealand
Over ten years ago, I wrote the article Is the Internet Making New Public Goods? ePublic Goods. In the article, I reasoned the internet is producing, based on the decline and failure in the entrainment and news media industries, a new type of Public Goods, ePublic Goods. e for electronic or internet-based. Public Goods are, along with Private, Club, and Commons (Common Pool) Goods, a key phenomenon in economics, Governments support public goods, and I predicted that this may happen with the media, too, someday, at the risk of democracy. If this is true, it is not a good thing at all. Firms in these industries are not profiting and are failing due to the loss of sales from the internet and have been downsizing. This is akin to the examples of market failure with the streetlights, fireworks displays, lighthouses and others. The media and entertainment firms are failing due to the same problems as with these normal Public Goods. The non-rivalry is when no one is bothered (the expe