Tragedy of The Commons

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People living together must find some way to preserve common resources. Unfortunately, there are strong incentives for people to exploit these resources when they are held in common by everyone. As Prof. Sean Mulholland at Stonehill College explains, the 'tragedy of the commons' occurs when individuals acting independently end up depleting shared resources, such as fisheries or pastureland. Prof. Mullholland discusses two potential solutions to this problem: public ownership, where the property is owned and administered by the government, and private ownership. He discusses the strengths and weaknesses to each approach and some key considerations for determining which institutions best protect useful resources.

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Education

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• tragedy of the commons
• tragedy
• commons
• garrett hardin
• open access
• property rights
• economics
• incentives
• public
• land
• learn liberty
• learn
• liberty
• video
• freedom

[ridewave444]

Yeah, and under private ownership you receive benefits (money for one) for shitty decisions you make that can fuck up many others. Polluting underground water,air, etc. all for a profit. It's not like larger areas aren't affected many times. I like how this video ignores the CORRUPT nature that money oftentime also plays.

[leeknivek]

@badseed86 An alternative to individual insurance is for the insurance company to make it a requirement for that company to be environmentally friendly, for lack of a better term, to be able to be insured for whatever reason.

[badseed86]

@SmashActionRemix

good point...a better solution would be insurance. If you get an insurance against air pollution, your insurance company has an incentive to monitor the polluters such as big factories, to avoid paying you whilst keeping your money. The problem with insurance is that it could be somehow impractical to get insured for everything. Like this guy said, it depends on the situation.

[Cornampoo]

@SmashActionRemix so what's your solution?

[SmashActionRemix]

Good luck privatizing the air and atmosphere.

[olhsaoagpaigfbp]

@stormbreak13 It is utopian to believe that government could make smart,logical regulation,government will always be corrupt and regulation will benefit those who corrupt it and hinder honest people,big corporations use it to prevent small and medium ones to grow and become competition,free market will have it's inefficiency,but not as large as government regulations,only being that would be capable of making sound regulations would be god,and god does not exist.

[stormbreak13]

@stormbreak13 non murderous actions in people, the threat of punishment for detestable behavior is one way yes, but the promise of reward for commendable behavior is another, your idiotic proposal had neither, just pointless illogical nonsense.

[stormbreak13]

@stormbreak13 and dont compare apples to elephants please...im talking about logical financial regulation, not sticking a personal investigator inside the office of every businessman, obviously making people in arizona wear mittens all the time would cause more murders than it prevents, and if you didnt get that joke, then you arent SMART enough fill out 20 forms probably, and therefore your idea sucks, however there are subtle actually intelligent ways to subliminally instill

[stormbreak13]

@olhsaoagpaigfbp ...bp ADMITTED to needing more regulation, and that with the proper regulation, the disaster could and WOULD have been prevented, and it would have been much cheaper for everyone and everything involve ..why would you try and argue for someone who admitted themselves that they were wrong...and lol the government put those"safety nets" there because its elected officials were all ex-big bank CEO's who created the ludicrous legislature that said they were"to big"

[hybridmcgee]

People sure do have a problem owning their own bodies, actions and trade services.