stackyFACTS
Economy

Private groups built and charged for lighthouses

HERE’S THE INTERESTING PART

Economists loved using lighthouses as the ultimate example of a 'public good' that only the government could build, since you cannot force ships to pay for seeing light. Except, historical records proved private guilds successfully built and tolled them for centuries. Basically, academic textbooks lied to you because nobody bothered to check the receipts.

Private groups built and charged for lighthouses
STACKY / Economy
One discovery leads to another.

Keep exploring facts in this topic.

Economy →
STACKY FOR IPHONE

A bigger world.
One discovery
at a time.

Keep discovering with Stacky. Interesting facts in an app that is always within reach.

Download on the App Store
ONE MORE DISCOVERY?

Keep exploring

All in this topic →
Public goods rely on forcing citizens to pay
Economy

Public goods rely on forcing citizens to pay

If society provides something beneficial to everyone regardless of contribution, highly rational actors will simply refuse to chip in. Hence, taxes exist…

Discover more
National defense protects everyone whether they pay or not
Economy

National defense protects everyone whether they pay or not

Missiles do not ask for your receipt before intercepting threats. Because it is physically impossible to protect a single neighborhood while letting the…

Discover more
President Abraham Lincoln established the United States Secret Service on the exact same day he was assassinated, but their original mission had absolutely nothing to do with protecting politicians.
Economy

President Abraham Lincoln established the United States Secret Service on the exact same day he was assassinated, but their original mission had absolutely nothing to do with protecting politicians.

President Abraham Lincoln established the United States Secret Service on the exact same day he was assassinated, but their original mission had absolutely…

Discover more
Stalin executed an economist for predicting capitalism's recovery
Economy

Stalin executed an economist for predicting capitalism's recovery

In the 1920s, Soviet economist Nikolai Kondratiev made the fatal mistake of doing his job too well. After exhaustively analyzing global markets, he…

Discover more
Germany officially made its final financial reparations payment for World War One in the incredibly recent year of 2010, nearly a full century after the conflict ended.
Economy

Germany officially made its final financial reparations payment for World War One in the incredibly recent year of 2010, nearly a full century after the conflict ended.

Germany officially made its final financial reparations payment for World War One in the incredibly recent year of 2010, nearly a full century after the…

Discover more
How did a completely accidental lab discovery lead directly to the creation of the modern household microwave?
Economy

How did a completely accidental lab discovery lead directly to the creation of the modern household microwave?

How did a completely accidental lab discovery lead directly to the creation of the modern household microwave?

Discover more
StackyMore discoveries in the app
Download on the App Store