noun(British usually merit goods)
A commodity or service, such as education, that is regarded by society or government as deserving public finance.
- Stanley and Starkie argued that the basic access characteristic of rural local roads is looked on as a ‘merit good’, which is a reason for the over-spending, according to economic criteria, that occurs in rural areas.
- Likewise the slender discussion of ‘mercantilism’ is shorter than discussions of ‘median,’ ‘merit good,’ and ‘migrants' remittances.’
- ‘Culture’ is the classic merit good, and in its name concert halls and theatres are built, museums, operas and libraries subsidized, artists kept afloat with public money.
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