Innes & Mackay

Innes & Mackay is a concept from economic theory, particularly related to public goods and their provision. It highlights the idea that certain goods, like clean air or national defense, are non-excludable and non-rivalrous, meaning that everyone can benefit from them without reducing their availability to others. The theory addresses the challenges of funding these goods, as individuals may not contribute if they can still benefit without paying, leading to under-provision. Understanding this concept is crucial for effective policy-making and managing resources that benefit the public as a whole.