Private Provision of Public Goods

Great idea, but I don't invest in these sectors because of the strong possibility that the government will screw things up and step in to regulate them.

Here in Ontario, our single-payer medical system is quite inadequate. But it's now illegal to compete with it in almost all cases.

Nursing homes are said to be the next big investment opportunity, but I think it's only a matter of time before it becomes illegal to make a profit in them -- whether explicitly, or simply through overregulation.

Government can ensure the provision of public goods, without supplying them. Government is good at articulating society's goals and at raising revenue supposedly for achieving them, but is terrible at actually achieving them. Markets, in theory and on all the evidence, are the best way of allocating our scarce resources to achieve social and environmental goals. My idea is that governments should stipulate basic social and environmental targets, and use markets to reward people for achieving them. The range of public goods and services that can be so supplied can be broad, and includes reduced crime, better educational standards, climate stability, and the elimination of violent political conflict.