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Goods and Bads

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  • Ralph Turvey

Abstract

There is a high degree of symmetry between economic goods and economic bads. Snow, litter and street mud are cited as examples. Economic growth obviously results in an increase in the supply of bads as well as goods. In addition, however, because it raises the value of time it can turn goods into bads and it can result in an end to the transformation of bads into goods. This is illustrated in some detail by two case studies for nineteenth century London, relating to domestic refuse and to horse manure. As a result of economic growth, horse manure had almost ceased to be an economic good and had become an economic bad by the end of the century.

Suggested Citation

  • Ralph Turvey, 2000. "Goods and Bads," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 1(4), pages 1-13, October.
  • Handle: RePEc:wej:wldecn:34
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    Cited by:

    1. Robert Hoffmann & Lee Chew Ging & Bala Ramasamy, 2002. "The Socio-Economic Determinants of International Soccer Performance," Journal of Applied Economics, Universidad del CEMA, vol. 5, pages 253-272, November.

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