Tragedy of the commons

Definition

Tragedy of the commons describes a situation where individual users act independently according to their self-interest, depleting or spoiling a shared resource. This often leads to the long-term detriment of the entire group's well-being.

5 Must Know Facts For Your Next Test

1. The concept was popularized by ecologist Garrett Hardin in 1968.
2. It typically occurs with resources that are accessible to all, such as air, water, and fisheries.
3. Overfishing is a classic example of the tragedy of the commons.
4. Solutions often involve regulation, privatization, or cooperative management to ensure sustainable use of resources.
5. The tragedy of the commons highlights the need for collective action to manage shared environmental resources effectively.

Review Questions

• Who popularized the concept of the tragedy of the commons?
• Can you provide an example illustrating the tragedy of the commons?
• What are some common solutions proposed to address issues arising from the tragedy of the commons?

Related terms

Sustainability: Management and utilization practices aimed at maintaining ecological balance and avoiding depletion of natural resources.

Overexploitation: The excessive use of natural resources leading to their significant depletion or destruction.

Collective Action Problem: A situation where individuals would benefit from working together but fail to do so due to conflicts between individual interests and group interests.