There are resources which belong to us all, for example, fresh water, clean air and healthy oceans. Unfortunately, human nature has a tendency to exploit these vital resources for selfish and short-term rewards.
Although it would be nice and simple, it does no good to exhort individuals to be less selfish. So, what happens? Benefits accrue to the exploiter and the costs are borne by all of us. The resource is eventually depleted or ruined and lost to everyone.
There are many examples:
- Polluting the atmosphere: ozone depletion, climate change, ocean acidification, particulates
- Water pollution, over extraction
- Over fishing the oceans
- Destroying habitat
The social dilemma between a common good and individual exploitation was described in an essay by British economist William Forster Lloyd in 1833, discussing the unregulated overgrazing of common land. The term Tragedy of the Commons was coined by American Biologist/Philosopher Garret Hardin in 1968.
How do we solve the dilemma?
According to Hardin: “Societies that want to remain sustainable have no choice but to regulate the use of the commons. Regulation is the price to pay for sustainability; it is the least undesirable strategy, since an unregulated-commons eventually marches itself toward tragedy.”
This can’t be a partisan issue.
We need leadership!
Critical issue always and especially now as Trump wants to privatize even the postal service. I just wish his followers could / would understand this.
Yes, you put it very simple: we need regulations to protect our finite common resources. We are too wasteful and have too much stuff. We should have more public discussions on economic models that do not rely on over- consumption and waste, yet meet everyone’s basic needs.
Who thinks up new models? Tim?
The cost to extract and use water, oil, gas, coal,fish etc. has to change. It has to reflect the fully burdened cost to society. There are methods such as a carbon tax or cap and trade market which change the calculus and incentives.
The North Atlantic cod fishery collapsed to 1% of prior levels in 1992 from over fishing amplified by new technologies and bigger trawlers. Canada declared a fishery moratoriam and cod fishery biomass is not expected to return to historic levels until 2030.