Tuesday, October 26, 2010

Journal #9 - Tragedy of the Commons -- Externalities...etc.

The tragedy of the commons is a dilemma arising from the situation in which multiple individuals, acting independently, and solely and rationally consulting their own self-interest, will ultimately deplete a shared limited resource even when it is clear that it is not in anyone's long-term interest for this to happen. This dilemma was first described in an influential article titled "The Tragedy of the Commons," written by Garrett Hardin and first published in the journal Science in 1968.


I definitely think what Garrett Hardin had to discuss truly is a tragedy. These days, no one really wants to join forces in order to help one another. This is why things such as Ecovillages come into play. 

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