Since it was introduced in the 60s, the Tragedy of the Commons, the idea that humans will inevitably ruin any resource we all share, has had sweeping effects on government and public attitudes on who owns the environment. Problem is, it was fictitious.See omnystudio.com/listener for privacy information.
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Another econ edition. Typically not my favorite, but, you know, this one I could wrap my head around for the most part.
I think that's one of the reasons why it's had such an enormous impact on the world, because it is so easy to wrap your head around. We should probably say we're talking about the tragedy of the commons. And for those of you who aren't familiar, it's this idea, this concept that if you have a shared resource, a commons, say,
And people are able to use it at their own leisure, for their own purposes. Eventually, as they seek to maximize their profits, they're going to overuse this commons. And inevitably, it'll be ruined because people can't have anything nice, essentially.
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