The tragedy of the commons must be addressed from "summary" of Economics of the Environment by Robert N. Stavins
The tragedy of the commons refers to a situation in which individuals, acting in their own self-interest, deplete a shared resource to the detriment of the group as a whole. This concept, first articulated by Garrett Hardin in 1968, highlights the inherent conflict between individual incentives and collective well-being. When resources are held in common, there is a tendency for individuals to exploit them without considering the long-term consequences for the group. This dilemma arises in a variety of contexts, from overfishing in the oceans to pollution of the air and water. In the absence of effective management, individuals have little incentive to conserve resources for the benefit of all. Instead, they are motivated to maximize their own short-term gains, even if it leads to the de...
Similar Posts
Promoting cultural diversity and heritage preservation
Promoting cultural diversity and heritage preservation is crucial for the development of a society. It is essential to recogniz...
Global economy undermines local communities
The rise of the global economy poses a significant threat to the stability and resilience of local communities. As economic act...
The affluent society must confront its social and economic disparities
The prevailing notion that an affluent society is a utopia where everyone thrives is a fallacy that must be confronted. The rea...
Logging industry's impact on wilderness
The logging industry's impact on wilderness is a complex and contentious issue that has far-reaching consequences for both the ...
Renewable energy sources can help mitigate climate change
The transition to renewable energy sources is essential for addressing the pressing issue of climate change. Fossil fuels, such...
Resistance to neoliberal policies
Resistance to neoliberal policies emerges as a natural response to the devastating consequences that these policies bring to so...