7 Matching Annotations
  1. Jun 2020
    1. Is it possible to avoid the public goods problem altogether?

      As Lynne Kelly indicates, knowledge is a broad public good, so it is kept by higher priests and only transferred in private ceremonies to the initiated in indigenous cultures. In many senses, we've brought the value of specific information down dramatically, but there's also so much of it now, even with writing and better dissemination, it's become more valuable again.

      I should revisit the economics of these ideas and create a model/graph of this idea over history with knowledge, value, and time on various axes.

    2. Think about fundamental tools for thought such as writing and the number system. Obviously, it’s good that those spread throughout society, unencumbered by IP concerns! More broadly, many tools of thought become more valuable for society as they become more ubiquitous.

      Metcalfe's Law at work here.

    3. The net result is that in gaming, clever new interface ideas can be distinguishing features which become a game’s primary advantage in the marketplace.

      Innovation in the video game industry helps it solve the public goods problem. Tweaking the economics helps the high upfront development cost be recouped.

    4. Put another way, many tools for thought are public goods. They often cost a lot to develop initially, but it’s easy for others to duplicate and improve on them, free riding on the initial investment. While such duplication and improvement is good for our society as a whole, it’s bad for the companies that make that initial investment. And so such tools for thought suffer the fate of many public goods: our society collectively underinvests in them, relative to the benefits they provide
  2. Dec 2019
    1. I think that the preservation of these documents could be seen as providing pure public good. We value that these have been preserved for posterity even if we don't visit the Magna Carta ourselves. What do you think?

  3. Feb 2014
    1. MINTURN, J. The plaintiff occupied the position of a special police officer, in Atlantic City, and incidentally was identified with the work of the prosecutor of the pleas of the county. He possessed knowledge concerning the theft of certain diamonds and jewelry from the possession of the defendant, who had advertised a reward for the recovery of the property. In this situation he claims to have entered into a verbal contract with defendant, whereby she agreed to pay him $500 if he could procure for her the names and addresses of the thieves. As a result of his meditation with the police authorities the diamonds and jewelry were recovered, and plaintiff brought this suit to recover the promised reward.
      • Plaintiff makes a verbal contract with defendant. In return for $500, plaintiff will find defendant's stolen jewels.
      • Plaintiff had knowledge of whereabouts of jewels at contract formation.
      • Plaintiff is a special police officer and has dealings with prosecutor's office.
      • Defendant published advertisement for reward.
      • Plaintiff finds stolen goods and arranges return.