The Lightship, the Uber of the Eighteenth Century

Lighthouses, as they were provided in england and wales, there were private entrefanurs. Their ability to provide lighthouses was backed by a monopoly privilege called letters patent. But these prices are higher than they would have been prevailed had the market been opened. So it's not an instance of what economists call a market failure. It's a failure of the market to exist. T crowding out of of an ontripanual profit opportunity by political entripeneis,. By political entripenurs.