The Lightship in Economics?

Vincent Geloso

I have recently submitted a new paper for consideration. It is co-authored with Rosolino Candela (post-doctoral fellow at Brown University). We revisit the debate launched by Ronald Coase in 1974 with the publication of the lighthouse in economics by introducing the lightship. This is because we believe that the field has been too focused on the lighthouse as a public good without considering the wider market for naval security. This is why we introduce primary evidence about the lightship (seamarks at sea, especially efficient on riverways like the Thames). We argue that it highlights that private provision was possible by that it was crowded-out by Trinity House (i.e. the state mandated monopoly on seamarks). We have not put the paper online for the time being, but below is the abstract of the paper we submitted:

What role does government play in the provision of public goods? Economists have used the…

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About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

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