The Voluntary Provision Of Public Goods? The Turnpike Companies Of Early America
The turnpike companies of early America (roughly 1795-1840) were very unprofitable, but conferred vast benefits to communities served. Purchasing stock was like paying for the road since such purchases were necessary to complete the road and unprofitability was foreseen. Thus, the turnpikes would appear to have been public goods. Yet, hundreds of turnpikes were provided through voluntary association. The free rider problem was overcome by an almost vigilant impulse to participate and to see that your neighbor did likewise. Copyright 1990 by Oxford University Press.
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|Date of creation:||1989|
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|Contact details of provider:|| Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.|
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NBER Working Papers
0042, National Bureau of Economic Research, Inc.
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