Thursday, February 26, 2009

Volcano Monitoring: Public Good

This Krugman post is worth reading to understand just how absurd Jindal's random attack against volcano monitoring was. It isn't simply that volcano monitoring might be a somewhat reasonable thing to do, it's also something that the private sector is not going to do because volcano monitoring is a public good, something with a precise definition in the world of economics (as opposed to a publicly provided good, which is just anything the government happens to fund).