Abstract

It has been supported that knowledge, Peace, Security and Defense have the characteristics of Global Public Goods. In this essay we attempt to assess if a combined form of these terms, namely information security is a global public good. We show that there are numerous deviations from Information security as a global public good. An important determinant is private ownership. We tend to support that information security can be seen rather as an externality and therefore corrected according to Coase Theorem by property rights and laissez faire. On the other hand Samuelson suggests that in the case of pure public goods competitive markets will not work optimally. Therefore the state should provide them. This essay has significant policy implication. Firstly, it notices that goods presenting features close to public good as Open Source Software can be effectively privately provided. Secondly it ascertains that there is a role of the state and international organizations, and this is not the provision but rather the correction of market failures with appropriate regulation encouraging free enterprise and providing economic incentives to enhance information security.