Tragedy of the commons reading CONS 200 Unit 3

Tragedy of the commons

-Describe as when people, motivated by personal gain, exploit resources given to all beyond its sustainable quantity.

Why does Hardin argue that freedom in a commons leads ruin for all?

He assumes all individuals will exploit shared resources for their own self-benefit without consideration of the long-term consequences that may arise.

What are general solutions Hardin discusses that will help us get out of a tragedy of commons?

1.Mutual agreement on the limit of common use through the establishment of rules, regulations, and social norms that restrict the exploitation of shared resource.

2.Property rights and regulations governing the use of the shared resource, since individuals have very little considerate of their actions.

What is one example of the tragedy of the commons?

Overfishing in common shared fishing grounds.

Common-pool resource

A resource that benefits a group of people