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<p>[QUOTE="Tejas, post: 8011439, member: 84905"]Economists distinguish between free or public goods (such as air, or the fire of a lighthouse) and economic goods (such as a car or a haircut). One characteristic that distinguishes free/public goods from economic goods is the question whether or not the owner can exclude others from consumption. </p><p><br /></p><p>A lighthouse cannot exclude some ships from using its signalling light for guidance. Hence, a lighthouse produces a public good, that has no price. It is a free good that would not be produced unless the state decides to do so.</p><p><br /></p><p>If nobody can be excluded from the consumption of digital art, such as music, movies or NFT, then they become public goods. They can have no price and hence are not procuced unless the state decides to do so, i.e. the state could decide to pay musicians and film makers, who then effectively become state employees.</p><p><br /></p><p>I suppose there is nothing wrong with collecting NFT pictures of coins instead of coins, as long as an exclusive right of use and enjoyment can be enforced and as long as this right is regarded as important.[/QUOTE]</p><p><br /></p>
[QUOTE="Tejas, post: 8011439, member: 84905"]Economists distinguish between free or public goods (such as air, or the fire of a lighthouse) and economic goods (such as a car or a haircut). One characteristic that distinguishes free/public goods from economic goods is the question whether or not the owner can exclude others from consumption. A lighthouse cannot exclude some ships from using its signalling light for guidance. Hence, a lighthouse produces a public good, that has no price. It is a free good that would not be produced unless the state decides to do so. If nobody can be excluded from the consumption of digital art, such as music, movies or NFT, then they become public goods. They can have no price and hence are not procuced unless the state decides to do so, i.e. the state could decide to pay musicians and film makers, who then effectively become state employees. I suppose there is nothing wrong with collecting NFT pictures of coins instead of coins, as long as an exclusive right of use and enjoyment can be enforced and as long as this right is regarded as important.[/QUOTE]
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