Public Goods and Private Communities: The Market Provision of Social Services

Overview

Do public goods and services, such as streets, parks and dams, have to be provided by government? In Public Goods and Private Communities, Fred Foldvary's innovative application of public choice and social choice theory to questions of urban economics shows how collective goods can be provided by agents in a market process. Rejecting the market-failure hypothesis, Dr Foldvary argues that an entrepreneur can provide collective goods by consensual community agreements. Instead of studying particular services, as ...
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Overview

Do public goods and services, such as streets, parks and dams, have to be provided by government? In Public Goods and Private Communities, Fred Foldvary's innovative application of public choice and social choice theory to questions of urban economics shows how collective goods can be provided by agents in a market process. Rejecting the market-failure hypothesis, Dr Foldvary argues that an entrepreneur can provide collective goods by consensual community agreements. Instead of studying particular services, as previous studies have done, this book concerns itself with entire private communities. A series of case studies demonstrates how real-world communities, such as Walt Disney World, the Reston Association in Virginia and the private neighborhoods of St. Louis, are in fact financing their own public goods and services in accordance with this theory. For such communities to rise and prosper, the author contends, government must eliminate zoning and many other restrictions, as well as the taxation of private services. After considering the implications of his work for urban economies - at a time when many of America's cities are plagued by decay, violence and poverty - Dr Foldvary argues that prosperity can be restored to cities if private communities are allowed to develop. As an original response to an urgent, contemporary problem this well-written book will be welcomed by social scientists, policy makers and business leaders seeking solutions to problems of urban decay.
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Product Details

  • ISBN-13: 9781852789510
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 1/1/1994
  • Series: John Locke Series
  • Pages: 276

Table of Contents

List of maps
Acknowledgements
1 The fallacy of the market-failure argument 1
2 The question of market failure 17
3 Territorial collective goods 25
4 Governance in industrial organization 44
5 Imposed versus consensual governance 52
6 Competitive territorial clubs 62
7 Non-territorial goods and Smithian sympathy 79
8 Proprietary communities and community associations 86
9 Utopia for rent: Walt Disney World 114
10 As they like it: Arden and land trusts 134
11 Life at the fort: the Fort Ellsworth Condominium 152
12 Garden city of today: the Reston Association 166
13 They do own the road: the private places of St. Louis 190
14 Urban economics and public choice 194
15 Towards consensual governance 203
Bibliography 213
Index 241
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