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An economic analysis of the philosophical common good

Purpose – The purpose of this paper is to analyze economically several versions of the philosophical common good in order to contribute to the search for a viable conceptualization of the common good. Design/methodology/approach – The paper presents an economic analysis of the common good by examini...

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Published in:International journal of social economics 2016-08, Vol.43 (8), p.823-840
Main Authors: Murphy, Tim, Parkey, Jeff
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Language:English
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description Purpose – The purpose of this paper is to analyze economically several versions of the philosophical common good in order to contribute to the search for a viable conceptualization of the common good. Design/methodology/approach – The paper presents an economic analysis of the common good by examining the extent to which eight different versions of the philosophical concept possess the consumption characteristics of excludability and rivalry – and thus how each version may be classified as an economic good: private, public, common, or club. Findings – One of the examined versions of the philosophical common good is an economic common good; three versions are club goods; and four versions are public goods. Only those versions of the common good that are classifiable as public goods merit consideration as adequate conceptualizations in political and philosophical thought. In assessing the admissible versions the authors conclude that a viable conceptualization of the common good may simply be the maintenance of a peaceful social order that allows people to pursue their individual and collective goals in community. Originality/value – The paper shows that an analysis of the philosophical common good using the economic criteria of excludability and rivalry can contribute to common good discourse.
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subjects Civil society
Classification
Common good
Concept formation
Consumers
Consumption
Economic analysis
Economics
Fireworks
Happiness
Medieval period
Philosophy
Political philosophy
Portable computers
Public good
Public goods
Public sector
Social economics
Social life & customs
Social order
Taxonomy
title An economic analysis of the philosophical common good
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