Goods and services are classified according to their consumption characteristics. In addition, a large number of economic agents are needed to stimulate national savings and GDP growth.
Dr. Samuel Enajite Enajero explores the different types of goods and economic initiatives to encourage and increase economic activities.
What are economic goods? What could be considered a pure public good? Also, how to establish economic cooperation in the territories, especially in sub-Saharan Africa? Dr. Samuel Enajite Enajero answers these and other questions regarding collectivism, public goods and macroeconomic management in his book ?? Collective institutions in industrialized countries: economic lessons for sub-Saharan Africa ?? (Page Publication; 2015).
?? Collective institutions in industrialized countries ?? tackles the conditions that have not allowed collectivism to flourish in the countries of sub-Saharan Africa and compares their economies with those of European and Asian countries, where collective institutions exist to usher in economic development and social prosperity .
In chapter 7 of the book entitled “Collective actions and public goods”,? Dr Enajero classifies economic goods and services according to their joint consumption level:
- Private property: The level of joint consumption is low and the size of the consumer group is small. Examples of private goods are rice and garri (a staple food in West Africa).
- Quasi-private goods: The size of the consumer group is small, and the good is consumed jointly but not equally consumed. The benefits may be divisible and indivisible for some consumers. An example of this is a neighbor who shares a security; although all neighbors benefit from the presence of security, the neighbor whose property is security benefits the most.
- Club Articles: The good is consumed jointly but totally indivisible. The consumer group is small because non-members are excluded. Examples are swimming pools, tennis courts and golf clubs.
- Quasi-public goods: The good is consumed by a large group under moderate joint consumption. There is a joint benefit, but the benefits are not equal. An example of this would be university education; while everyone benefits from mass university education, those who receive university education benefit the most.
- Pure public goods: The good is jointly consumed and totally indivisible and no one is excluded from consumption. National defense is an example of pure public good.
- Mixed public goods: The good is consumed by a medium-sized group and the level of joint consumption is moderate. These goods can be supplied privately, but local supply is necessary. Examples of mixed public goods are garbage collection, street lights,
- Local public goods: The degree of co-consumption is high but the group of consumers is not small to deter free riders. Local public goods can be provided by local governments through taxes collected from the beneficiary group. Examples of these goods are roads, police and fire protection.
Dr. Enajero discusses at length the nature of pure public goods, which he believes should be non-exclusive and non-competing in consumption. A pure public good is non-excludable in the sense that “whoever does not pay for these goods, once provided, cannot be deprived of the use of the goods”. A pure public good is also a non-rivalry because “the consumption of one person does not reduce the quantity available to others”.
He added that in Africa, due to the lack of collaboration, there is no categorization of economic goods and services. Therefore, all goods, services and activities are private. This scenario has led to socio-economic dysfunctions.
In the subject of macroeconomic management in chapter 8 of the book entitled “? Collectivism and macroeconomic management ”,? Dr Enajero points out that “in order to improve the quality of life over time, the collective goal of the company would be to engage in activities that lead to a continuous increase in overall production. And what other way to encourage generalized economic activities than by transforming traditional people into economic agents through collective institutions?
First, societies and economies should be established through the practice of economic cooperation, ?? the author wrote. ?? Economic agents should be mobilized en masse through other institutions such as those experienced in the countries of Europe and Asia.
?? The lack of historical and contemporary collective institutions in some societies is fully responsible for economic and social woes, ?? added the author. He also said: “The lack of historical cooperation and collectivism has created misuse of economic resources, including labor and land. “
Read more about Dr Samuel Enajite Enajero’s thoughts on the subject of collectivism, public goods and macroeconomic management in his book Collective institutions in industrialized countries: economic lessons for sub-Saharan Africa. Copies are available on Amazon and Barnes & Noble.
Readers are also encouraged to visit the author’s website, https://aafee.org/. AAFEE, which stands for African Association for the Evolutionary Economy, aims to provide a platform for peer-reviewed academic papers and also serves as a forum for informal discussions on institutional changes and Africa’s economic development. .
Collective institutions in industrialized countries: economic lessons for sub-Saharan Africa
Author | Samuel Enajite Enajero, Ph.D.
Date of publication | November 5, 2015
Editor | Publishing pages
Retail price of the book |
Samuel Enajite Enajero is a scholar, visiting assistant professor and lecturer and academic author with a doctorate. in economy. He is the founder of the African Association for the Evolutionary Economy (AAFEE).
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