Asked by Kayla Cohen on May 09, 2024
Verified
In what sense is it meaningful to say that fighting poverty is a public good?
Fighting Poverty
Fighting poverty involves implementing strategies and policies aimed at reducing or eliminating poverty, enhancing the quality of life for individuals and communities.
Public Good
A good that is non-excludable and non-rivalrous in consumption, meaning it can be used by everyone and one person's use does not reduce its availability to others.
- Learn the concept of public goods and their role in addressing societal concerns such as poverty.
Verified Answer
AM
Aadit MeenegeMay 14, 2024
Final Answer :
The argument that fighting poverty is a public good rests on the idea that, even if everyone prefers living in a society without poverty, fighting poverty is not a "good" that private actions will adequately provide. In the fight against poverty, people tend to free ride on the generosity of others.
Learning Objectives
- Learn the concept of public goods and their role in addressing societal concerns such as poverty.