Public good (economics) in the context of "Free-market capitalist"

A market economy is an economic system in which the decisions regarding investment, production, and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.

Market economies range from minimally regulated to highly regulated systems. On the least regulated side, free market and laissez-faire systems are where state activity is restricted to providing public goods and services and safeguarding private ownership, while interventionist economies are where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes referred to as a mixed economy.

Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good. They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment.

During the 15th and 16th centuries, statistics were a method for counting and listing populations and State resources. The term statistics comes from the Neo-Latin statisticum collegium (council of state) and refers to science of the state. According to the Organisation for Economic Co-operation and Development (OECD), official statistics are statistics disseminated by the national statistical system, excepting those that are explicitly not to be official".

In economics, excludability is the degree to which a good, service or resource can be limited to only paying customers, or conversely, the degree to which a supplier, producer or other managing body (e.g. a government) can prevent consumption of a good. In economics, a good, service or resource is broadly assigned two fundamental characteristics; a degree of excludability and a degree of rivalry.

Excludability was originally proposed in 1954 by American economist Paul Samuelson where he formalised the concept now known as public goods, i.e. goods that are both non-rivalrous and non-excludable. Samuelson additionally highlighted the market failure of the free-rider problem that can occur with non-excludable goods. Samuelson's theory of good classification was then further expanded upon by Richard Musgrave in 1959, Garrett Hardin in 1968 who expanded upon another key market inefficiency of non-excludable goods; the tragedy of the commons.

Social capital is a concept used in sociology and economics to define networks of relationships which are productive towards advancing the goals of individuals and groups.It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity. Some have described it as a form of capital that produces public goods for a common purpose, although this does not align with how it has been measured.

Social capital has been used to explain the improved performance of diverse groups, the growth of entrepreneurial firms, superior managerial performance, enhanced supply chain relations, the value derived from strategic alliances, and the evolution of communities.

Social equality is a state of affairs in which all individuals within society have equal rights, liberties, and status; possibly including civil rights, freedom of expression, autonomy, and equal access to certain public goods and social services.

Social equality requires the absence of legally enforced social class or caste boundaries, along with an absence of discrimination motivated by an inalienable part of an individual's identity. Advocates of social equality believe in equality before the law for all individuals regardless of many aspects. These aspects include but are not limited to, sex, gender, ethnicity, age, sexual orientation, origin, caste or class, income or property, language, religion, convictions, opinions, health, disability,trade union membership, political views, parental status, mores, family or marital status, and any other grounds. These are some different types of social equality: