30
Oct
Downtown Wichita arena as a public good
The streets and highways, and certainly the public parks, are examples of public goods. Public goods are characterized by two things: nonexcludability, meaning that non-payers can't be excluded from enjoying and using the good, and nonrivalrous consumption, meaning that consumption of the good by one person doesn't reduce the availability of the good to others. Neither applies to an arena. Roads and highways, to a large extent, are paid for by those who use them. As far as I know, I paid for the entire cost of street in front of my house through special tax assessments. It is reasonable…