Public Goods in the Global Economy

Elena Iliescu and Maria Florentina Constantinescu ()
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Maria Florentina Constantinescu: Court of Accounts of Romania

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 77-80

Abstract: Given the path that on which the economic life has irreversibly entered and the fact that economic business results have a direct impact on the environment overall, both theorists and directly involved subjects in the global economy, puts more emphasis on the concept of global public good. The concept of a global public good is in fact the global economy, an extension of the concept of public good. In order for a public good to be considered a global public good has to fulfill the quasi-universality of the benefits arising from its use by the countries, nations and generations. As a result, the role of the international organizations is emphasized regarding the production of global public goods. Inge Kaul argues that ONU is the home of the global public goods, and sees the organization as the intermediary global public goods, called to produce final global public goods, such as peace, security and global justice. Charles Wyplosz designates the financial stability as a global public good. The viability of the claim is sustained by the current context of the global economic crisis. Epidemiological monitoring of overall health status is also an example of a global public good, confirmed by the global panic created by the influenza pandemics occurred in recent years. We can conclude that global public goods management represents a starting point less abstract and less threatening for the national interests than for the global governance.

Keywords: public goods; international organizations; ONU (search for similar items in EconPapers)
JEL-codes: H41 (search for similar items in EconPapers)
Date: 2010
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