Explain the concept of the tragedy of the commons.

Understand the Problem

The question is asking for an explanation of the tragedy of the commons, which refers to a situation in which individuals acting in their own self-interest negatively impact a shared resource, leading to its depletion. This concept highlights the conflict between individual interests and the common good.

Answer

The tragedy of the commons is a theory stating that individuals exploiting a shared, unregulated resource will ultimately deplete or ruin that resource due to self-interest.

The final answer is that the tragedy of the commons is a theory stating that individuals exploiting a shared, unregulated resource will ultimately deplete or ruin that resource due to self-interest.

Answer for screen readers

The final answer is that the tragedy of the commons is a theory stating that individuals exploiting a shared, unregulated resource will ultimately deplete or ruin that resource due to self-interest.

More Information

The term was popularized by biologist Garrett Hardin in 1968, illustrating potential outcomes if individuals prioritize personal gain over communal well-being.

Tips

Common mistakes include forgetting that the resource in question must be shared and unregulated, and focusing only on environmental examples without considering economic and social instances.

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