Asked by Marlene Mejia on May 04, 2024
Verified
Although national defense is currently a public good, economists who advocate small government generally agree that the U.S. should privatize national defense to increase the efficiency of the good.
Privatize National Defense
The concept of transferring national defense responsibilities from the government to private entities.
Public Good
A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
- Gain insight into the definitions and differences of public goods, private goods, common resources.
- Understand the function of government in funding research and supplying public goods as a response to market failure.
Verified Answer
MK
Macey KessingerMay 09, 2024
Final Answer :
False
Explanation :
Economists who advocate for small government typically argue for the privatization of many services but usually exclude national defense, recognizing it as a core function of government due to its non-excludable and non-rivalrous nature, making it difficult to privatize efficiently.
Learning Objectives
- Gain insight into the definitions and differences of public goods, private goods, common resources.
- Understand the function of government in funding research and supplying public goods as a response to market failure.
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