ABSTRACT
Public economic goods from an economic perspective have two defining features: non-rivalry and non-excludability. Air quality, knowledge or education can be examples of public goods. Public economics has introduced the new concept of global public goods as a new category of public goods whose provision is central for promoting the well-being of individuals in today’s globalized world. The concept of “public goods” is confusing because it confounds three analytically distinct concepts: excludability, rivalry and public finance. Pure public goods are of limited relevance as an explanation of government spending. The broader policy community uses the term in ways that invoke different means of both “public” and “good” than economists favour. Sustainable development is an idea originated from the economic field connected to money and distribution. A new perspective of education as a “public good” should be the catalyst for this potential sustainable development according to Sustainable Development Goals.
