Lecture+18+Scarcity - Lecture18:ScarcityandPublicGoods

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Lecture 18: “Scarcity” and Public Goods INTA 2030: Ethics and International Affairs 4/27/2011
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Garett Hardin on Public Goods According to Adam Smith, an individual who only  intends her own gain will in the end promote the  public interest Smith says that it’s as if an invisible hand leads the  individual to act in a way that in the end helps the public Hardin writes that if this is true, then individuals will  themselves limit the number of children they have,  and we will never have overpopulation given our  resources  If it isn’t true then we need to think about limiting our  own individual freedom to reproduce
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How do you think we should address the problem  of scarce resources A: Through privatization B: Through population control C: Through mechanisms that reflect distributive justice  D: Through coercion
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The Tragedy of the Commons Tragedy, here, is not any unhappiness. The essence  of tragic drama lies in the “remorseless working of  things” Fate, destiny, and unhappiness from the futility of escape The Tragedy of the Commons: Common pasture in which each herdsman keeps as  many cattle as possible Acting rationally, each will try to add one cattle too many Pro: One more cattle to sell Con: Overgrazing the pasture Individually, pro beats con because the cost of overgrazing is  divided by all The tragedy: The commons will be overgrazed and ruined
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This note was uploaded on 09/12/2011 for the course INTA 2030 taught by Professor Staff during the Spring '08 term at Georgia Institute of Technology.

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Lecture+18+Scarcity - Lecture18:ScarcityandPublicGoods

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