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As the global population surges, numerous challenges will arise at the macro level, including strain on resources, public service delivery, environmental degradation, and increased demand for housing and infrastructure. The public sector may consider contracting out services to manage these pressures effectively. Understanding the concepts of common goods, nationalization, and privatization is crucial to navigate these complexities as they relate to government responsibility in providing accessible services and managing public assets amidst rising population pressures.
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On the back page of this packet, please make a list of all the issues you think we will face at the global level due to the increased population.
What is a common good? Goods and services provided by the government (taxes) and consumed by the public; people cannot be excluded from the benefits even if they do not pay for it and one person’s use does not reduce the usefulness of the good
the process of transferring from privately owned property or goods to government-owned or public ownership What is nationalization?
the process of transferring state-owned property and business to individuals What is privatization?
