1. The Tragedy of the Commons
... first published in 1968, and since then it has been applied to social, economic, and political situations. Garrett Hardin originally put forth a metaphor to explain this idea. A pasture land represented a common resource, open for anyone to use, and not owned by anyone in particular. The herdsmen had no limit as to how many cattle they could put on this land, so ... that one extra cattle was shared by all the herdsmen (one more cattle would mean less grass or less space for the already existing cattle). Hardin explained that in time common resources and public goods will be abused and e...
- Word Count: 1485
- Approx Pages: 6
- Grade Level: Undergraduate