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https://www.youtube.com/watch?v=3ogmz49PDY8&list=PLTp9Bu0cTGUzr9-y_w5zc_cNVJEiM6F6u
3 years ago
2
The tragedy of the commons is a circumstance in which individuals acting in their own self-interest work against the common good of all others by collectively depleting or ruining a shared resource. In 1833, British economist William Forster Lloyd was the first to explain the phenomenon. Because grazing on the commons (fields that were available to anybody) was free, the soil was damaged, lowering the value of the fields for everyone, according to Lloyd. Can you think of another free resource that might suffer the same fate? Sharks could be a threat!
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