On Goods: Rival and Non-Rival, Excludable and Non-Excludable

It was especially interesting to read a noted economist’s article highlighting the essence of globalization being not because the world is flat or that distance is dead et cetera, but rather due to the growing ease of rival goods being altered into non-rival good and vice versa by the midas touch of technology.

It boils down to the importance of knowledge—or simply, business ideas. Though perhaps there’s nothing really new here, I don’t disagree that it helps enrich our knowledge on the creation and appreciation of values.

Among my first impressions: in order to tap the potential, profits need to be contrasted as stuff that can moneyed and that which cannot, i.e. profits reaped by originators/implementers of ideas, and benefits for the society at large.