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Economics
Tragedy of the Commons
When individuals acting in their own self-interest overuse a shared resource and destroy it for everyone.
Garrett Hardin popularised the idea in 1968. Solutions include private ownership, government regulation, or community agreements that limit use. It explains many environmental problems.
It's like everyone at a party eating all the snacks because no one owns them — soon there are none left.
Real world: Overfishing in international waters or farmers overusing a shared river for irrigation. Each person takes a little more, and eventually the resource collapses.
💡 The tragedy of the commons shows why shared resources need rules.