The "tragedy of the commons" warns us about the consequences of overexploitation of shared resources from "summary" of Algorithms to Live By by Brian Christian,Tom Griffiths
In a world of limited resources, the "tragedy of the commons" serves as a cautionary tale. This concept highlights the repercussions of individuals acting in their self-interest without considering the collective good. When resources are shared among a group, such as a community pasture or a public park, each person has an incentive to exploit the resource for their own benefit. However, this self-serving behavior can lead to the depletion of the resource, ultimately harming everyone involved. The crux of the issue lies in the lack of coordination among individuals sharing the resource. Without proper communication and cooperation, each person may prioritize their immediate gains over the long-term sustainability of the resource. This shortsightedness can result in overexploitation, as everyone pursues their self-interest without regard for the consequences. As the ...
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