QUOTE(uninspiredfae @ May 20 2004, 7:10 PM)
I disagree, the economy is not
just public or private good.
The economy consists of
markets, and these markets can be both private and public. The government can be considered as a market because it can sell/buy government bonds.
Privately owned, does not necessarily mean that it's a private good. Privately owned companies may produce output for the public to use (education, health care...etc).
But since we're talking about the economy as a whole, we're talking about private AND public markets combined.
If you mean that the economy is a private good because you can own it... that's not necessarily true either. An economy needs market(s), and markets mean there must a buyer and seller, you cannot just be a seller (owner) and call yourself a market. You're lacking someone to sell your goods to.
Because your privately owned company provides goods are meant to be sold to the public, they are public goods.
I'm confusing myself...

You own PART of the economy.
In a market, the buyer owns his money, and the seller owns the goods he's selling. It's still a private good.
Economically, the definition of public good is a "commons" -- something that you can take from freely. That's not what the economy is.