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Commons or common pool resource
Is something that no one owns but everyone can access.
The tragedy of the commons
Happens when using shared resources for their own self interest, rather than looking out for the future generations.
Solutions
Laws (Legislation )
Education
Sustainability
Human use of natural resources without depletion of the resources for the future generations.
Sustainable Yield
The highest rate at which a renewable resource can be used forever without reducing the available supply.