"In 1833, the English economist William Forster Lloyd published a pamphlet which included a hypothetical example of over-use of a common resource. This was the situation of cattle herders sharing a common parcel of land on which they were each entitled to let their cows graze, as was the custom in English villages. He postulated that if a herder put more than his allotted number of cattle on the common, overgrazing could result. For each additional animal, a herder could receive additional benefits, while the whole group shared the resulting damage to the commons. If all herders made this individually rational economic decision, the common could be depleted or even destroyed, to the detriment of all."
Tragedy of the Commons is interesting, although not quite what I thought it would be about.
Tragedy of the Commons is interesting, although not quite what I thought it would be about.
@skells Private property has definitely been the bane of the common property. Basically destroyed it. But then again, I think that so does globalism destroy it. It works better on small communes or villages where there is a survival stake in keeping the soil fertile. If you think that you can't leave and move elsewhere to farm, that changes your mindset. It is life or death then.
