The Tragedy of the Commons
Santa Barbara, CA
Ecologist Garret Hardin publishes The Tragedy of the Commons, an economic theory used to explain natural resource depletion and environmental degradation. He explains that individuals, working out of self-interest, exploit and degrade our shared resources (the commons). Hardin’s theory operates on two principles: 1) the world and its resource are finite and 2) individuals seek to maximize personal gain as if resources were infinite. He argues global environmental crises can be curtailed by taking action through transboundary governance or privatization.
World Population : 170,060,000
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