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In contemporary economic theory, a common good is any good which is rivalrous yet non-excludable, while the common good, by contrast, arises in the subfield of welfare economics and refers to the outcome of a social welfare function. Such a social welfare function, in turn, would be rooted in a moral theory of the good (such as utilitarianism).
Wild fish are an example of common goods. They are non-excludable, as it is impossible to prevent people from catching fish. They are, however, rivalrous, as the same fish cannot be caught more than once. Common goods (also called common-pool resources [1]) are defined in economics as goods that are rivalrous and non-excludable. Thus, they ...
Social theories are analytical frameworks, or paradigms, that are used to study and interpret social phenomena. [1] A tool used by social scientists, social theories relate to historical debates over the validity and reliability of different methodologies (e.g. positivism and antipositivism), the primacy of either structure or agency, as well as the relationship between contingency and necessity.
Wikipedia is an example of the production and maintenance of common goods by a contributor community in the form of encyclopedic knowledge that can be freely accessed by anyone without a central authority. [23] Tragedy of the commons in the Wiki-Commons is avoided by community control by individual authors within the Wikipedia community. [24]
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
Thus, communitarianism is the reaction of some intellectuals to the problems of Western society, an attempt to find flexible forms of balance between the individual and society, the autonomy of the individual and the interests of the community, between the common good and freedom, rights, and duties. [13] [14]
The theory was first developed by Julio Rotemberg in 1984. [32] Several empirical contributions document the growing importance of common ownership and provide evidence to support the theory. [33] Because of concern about these anticompetitive effects, common ownership has "stimulated a major rethinking of antitrust enforcement". [34]
Symbolic interactionism is a microsociological theory that focuses on individuals and how the individual relates to society. [12] Symbolic interactionists study humans' use of shared language to create common symbols and meanings, [ 13 ] and use this frame of reference to understand how individuals interact to create symbolic worlds, and in ...