The Tragedy of the Commons

The Tragedy of the Commons - The Tragedy of the Commons...

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The Tragedy of the Commons - Garrett Hardin Is it correct or incorrect to apply Adam Smith’s theory of laissez-faire to human reproduction, in an effort to mediate the size of our population? -will decisions reached individually in fact be the best decisions for an entire society? -will an individual who intends only her own gain, in fact act in accordance with what is in the interest of the public, through guidance of an “invisible hand”? TRAGEDY OF FREEDOM IN A COMMONS Rebuttal to use of invisible hand in population control: -William Foster Lloyd, 1833: E.g. Each man is locked into a system that compels him to ‘increase his own herd’ without limit – in a world that is limited. Ruin is the destination toward which all men rush, each pursuing his own best interest in a society that believes in the freedom of the commons. Freedom in a commons, then, brings ruin to us all. -There are more and more people exploiting limited resources on Earth, as they all seek to satisfy their own needs and interests. POLLUTION Here it is not a question of taking something out of the commons, but of putting something in – e.g. sewage into water, fumes into air, distracting advertising into line of sight. -Calculation of utility: the rational man finds that his share of the cost
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The Tragedy of the Commons - The Tragedy of the Commons...

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