Providing public goods generally can't be done as well by for-profit institutions as by government. It's hard to make profits supplying a public good well. The benefits accrue mostly to society, not to individual firms. That's what a public good is!
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Here's an example: vaccines! Companies will be reluctant to invest enough to get to herd immunity because risks of capital loss are big. The way around that is to guarantee mass purchases using government dollars, putting up enough $ to vaccinate everybody.
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Also businesses fail and dissolve. Governments aren't supposed to do that.
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Exactly. That's why so many people were horrified by Trump running for office. He let so many of his businesses go bankrupt. He thought it was fine for the fed to become insolvent & repudiate debts. The sovereign money issuer can't do that without crashing the whole economy.
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