Tragedy of the Commons

How public resources can be abused

Category:

Education

Tags:

• microeconomics

[SonOfTanit]

How public resources *will* be abused.

FTFY

[SonOfTanit]

@LechuCzechu

How the hell did you translate an explanation of "the tragedy of the COMMONS" to an anti-capitalistic statement?!?

[ChingChongCification]

I hope your not making a case for privatization of land and natural resources. Private ownership of resources is much more prone to this problem. Corporations are largely unaccountable for their environmental destruction and can hijack governments to remove any such protections. What needs to be done is to make private corporations public, non-for-profit entities with charters to operate in the public good. Public ownership of all resources with adequate regulatory government over site.

[hikerphoto]

The Tragedy of the Commons is a manifestation of the belief that simple models can explain human behavior. My view is that history is not that simple. Many thinkers form a worldview based on reactions to excesses in behavior their time. Ayn Rand, Friedrich Hayek and John Maynard Keynes are good examples.

One's worldview these days should look also at the studies of Amos Tverksy, Alfred Kahneman, and their research into prospect theory.



[tutikushi]

@hikerphoto you are right. Communism doesn't take selfish humans into account. But I believe that as the evolution goes on people will become less and less selfish making communism more possible. do you??

[Goofmobber]

Your videos are the best. Short, to the point, and simple. :D

[alexandrenr]

Thank you, Sal!

[pongman]

The solution to the public pond is to have someone put up a sign beware Poisonous Fish,

[moestietabarnak]

@StatelessLiberty certainly, you can hire other people to regulate the one in charge of the common. with no interest in the 'profit' of missuses of the common, just the interest of keeping their job.

Who's the private owner that will hire someone to tell him to take less profit ?

[moestietabarnak]

@EliteKiller07 the dark ages is an example, not ALL property was owned by few rich, because the people revolted before it happened.. and people will revolt again.

Now don't tell  they were helped by the 'government' ..their wealth allowed them to BECOME government, as I the current path of the USA.

[moestietabarnak]

@EliteKiller07 tell that to Enron investor.

[TheCheyenneOsaurus]

sustainability!!!