Planet Money – Government Spending

From 2-28-12:

-Greece economy projected to shrink by 7% in 2012.  Bad number.  In Great Recession, U.S. economy shrank by about 4%

-View of government spending from economics perspective:  government spending necessary for public goods: lighthouses, defense, security, autopsies, etc (criteria for public good- no marginal cost, no exclusivity)  Post office not a public good according to economists.

-many things that government provides are no common goods. politcs vs. economics