By Marina Ignatieva

Outline:

1. Introduction

2. Globalization & Market failure

3. The traditional view of Public Goods (PGs)

4. The essence of Global Public Goods (GPGs)

5. The provision of Global Public Goods

6. Conclusion

- “inexorable integration of markets, nation-states

and technologies to a degree never witnessed before-

in a way that is enabling individuals, corporations

and nation-states to reach round the world farther,

faster, deeper and cheaper than ever before”

T. Friedman

Liberalization of global economy

Integration of international markets

International law development Technological development Creation of global government Encouragement of

trade, investment, transport, travel, migration, communication

Economic crises Financial meltdowns Human insecurity Contagious diseases Access to information Ethnic tension Biodiversity loss Air & water pollution

GLOBAL “GOODS” GLOBAL “BADS”

SAMUELSON’S CONDITION :

“a public good is optimally

provided when the cost to

society of an additional unit

of the good equals the

amount that society is

willing to pay for that unit”

Alternative methods to finance GPGs:

SUBSIDIES (as an aid to developing countries)

COMPENSATIONS (on the purposes of biodiversity

conservation)

DIRECT PAYMENTS (contributions to the regular

budgets of the main multilateral organizations)

PRIVATE – PUBLIC PARTNERSHIP

(encouragement in research focused on disease of

poor people)