public goods

(redirected from social products)
Also found in: Dictionary, Financial.

public goods

or

collective goods

(ECONOMICS) commodities or services -e.g. defence, public parks, or urban clean air – which when supplied to one person are available to all. The contrast is with individual or private goods, which, in theory at least, are consumed privately

According to Hirsch (1977), ‘the central issue’ involved in a consideration of the provision of private and public goods ‘is an adding-up problem’: what some individuals individually can obtain, all individuals and society cannot always get; and some things that societies might obtain cannot be obtained except by collective action. Thus society has to find some means of determining how such different sets of outcomes should be reconciled. If private decision-making provides no automatic best answer to such questions, nor necessarily do centrally controlled economies. Problems of overall coordination, and a lack of consideration for both true productivity and the external social costs of production, have beset both decentralized and centrally controlled economies. See also GALBRAITH, AFFLUENT SOCIETY, PARETO OPTIMALITY, SUBOPTIMALITY, POSITIONAL GOODS AND POSITIONALITY.

References in periodicals archive ?
Of course, buildings are unquestionably social products, embodying the values of the societies that build them, but each one is also shaped by individual consciousness, or a series of individual consciousnesses.
First, identities are social products that are created and maintained through naming oneself relative to a social group, interacting with others in the group, and presenting oneself as a group member.
Airplanes and airports are products of educational institutions, scientific discoveries, the organization of money, the production of petroleum and its refining metallurgy, the training of pilots, the actions of governments in creating traffic control systems, all of which are social products ...
Conceptualizations about social work are primarily social products and reflect the particular socio-economic base upon which most social welfare institutions have grown.
Rathzel has pointed out that foreigners in Germany are often seen as threatening because they call a German's life choices into question, exposing them as social products rather than natural and inevitable.
We recognize that legal and political institutions are "contingent social products," but we tend to view technologies as "naturally determined rather than socially shaped and chosen."
As social products and historical subjects, these teenagers also represent "intermediary" figures to Streuli.
Let me stress once more that Pigou is not seeking state intervention as an end in itself, but rather, he is seeking encouragement or restraint of investment in order to eliminate divergences between the private and social products. He names only the best-known forms of achieving this (remember that he is writing in the 1920s).(1)
Cox further argues that these texts are "complex social products, subject to pressures from authors, theaters, printing houses, the government, and of course, the audience, and reading public" (80), The one slight problem with this approach is that when Cox begins to analyze an individual play, he does so from this ideological perspective.
Public health problems like smoking, population control, mental health, and nutrition can be viewed as "social products" (Fine 1981), amenable to resolution through application of marketing concepts and techniques.
Sciences are both social products and active forces which transform society; they break new ground even while they defend the status quo.
IBM has assisted education institutions in transforming their student experience and outcomes using cloud, analytics and social products and services.

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