Monday, April 16, 2012

Tornadoes and big gummint

I suppose the feds could stop issuing weather warnings in states whose public officials have declared that they do not believe in science, but this would hardly be fair to the minority (?) of residents who do, unless one could selectively issue the warnings just to the rational people. The fact that you can't is an example of what we economists call non-excludability, a defining property of public goods. Which are, you know, one of those reasons we want to have gummint...

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