Ending The Tragedy of The Commons
Send us a texthttps://teamseas.org/ The Tragedy of the Commons is an economic idea made popular by the American ecologist Garrett Hardin, who used the analogy of ranchers grazing their animals on a common field. Individual ranchers will seek to add additional livestock, to increase their profits. The benefit of adding additional animals accrue to the rancher alone, while the costs are shared. The tragedy is that ultimately the field will be destroyed, due to overconsumption. ...