Tragedy of the Commons
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Uploaded by CEIdotorg on Aug 16, 2010
Robert J. Smith, Director of the Center for Private Conservation, explains in this short video the Tragedy of the Commons.
A celebrated author and environmental historian, Smith demonstrates why private property rights protect the environment.
Read more by Robert J. Smith here http://cei.org/publications/studies/5811 .
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Private ownership does have huge problems, under common ownership regulations can be implemented just like it can with private ownership, examples being national parks, which if you compare to the use of private land have been hugely better from an environmental point of view
To expressive this more scientifically a Nash equilibrium (NE) is required under public ownership though democratic means, in private ownership you do not get a NE, normally only at best a Pareto optimum
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Brilliant video, but the music is really annoying!
PeterAnt81 1 year ago 7
Amazing!
joeevil 1 year ago