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Nonprofit Theory (Economic we make moniees (Market failure (Collective…
Nonprofit Theory
Economic we make moniees
Market failure
Collective good
Service for the collective, the society
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Externalities
"spillover effect"
Nursing homes, free health clinics
Government failure
You believe that it's the government job to do something and the government believes it's not their job
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Or the government doesn't believe that there is a big enough need for something that they can reasonably get involved. Or for another reason choose to not get involved.
Example given in class: There is a horrible disease that affects 1% of the population. Due to narrowness of population, rare disease so they can’t foot that bill, so nonprofits will step in for funding and research
Another example: Museums, art organizations
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