Econ 101 writing assinment 3.docx - Karl Kafer Joshua Tibbits Econ 101 Section 3 Assignment 4 1 The tragedy of the commons is a phenomenon where in a

Econ 101 writing assinment 3.docx - Karl Kafer Joshua...

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Karl Kafer Joshua Tibbits Econ 101 Section 3 Assignment 4 1. The tragedy of the commons is a phenomenon where in a shared-resource environment individuals act out of their own selfish desires instead of the well-being of society and deplete their own natural resources. In the video excerpt Good for me, Good for you, Bad for us an economist writes a comical song explaining how in a society if people use a resource to much without replenishing it or giving it time to replenish itself that resource will go away indefinitely. The signature line of the song “Good for me, Good for you, Bad for us” refers to how if we overuse our resources they can go away for good. 2. The video shows various examples of how a pasture, a fishery, and our atmosphere is all effected by our continuous use and production of resources in the United States. In Pastures we have monopolized the farming business and there is a massive surplus of
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Unformatted text preview: Animals that pollute a ton. Farming this way has taken away the natural cycle of how these Animals live and die and corrupting the food chain and inevitably corrupted our atmosphere. One major way farms have had to mitigate this was to cut down the amount of cattle and sheep that were grazing the land at a time. In our history we have had issues with overfishing certain populations so, creating fisheries was an efficient way to save many aquatic habitats while still supplying the demand for fish. A major way our government has tried to cut down emissions into our atmosphere is by creating an emissions tax that incentivizes business economically to pollute less, other ways were giving tax breaks to corporations and businesses that worked toward helping the environment....
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