"The Lighthouse in Economics" Revisited


A privatization you may have missed:

The Coast Guard once owned and maintained all of the nation's lighthouses, but after Sept. 11, when the agency's mission shifted to homeland security, it had neither the funds nor the inclination to keep up these weather-beaten structures. So it began selling them. Most of the lighthouses on [Chesapeake Bay sailor Mike] Richards' tour are privately owned, though Coast Guard officers can stop by any time.