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Tragedy of the commons - it's a ubiquitous and powerful economic principle.
by eliben 9y ago
Tragedy of the commons - it's a ubiquitous and powerful economic principle.
- danharaj 9y agoThe tragedy of the commons is another name for the failure of private property and markets to account for externalities. For a real theory of the commons without leaving mainstream economics cf. Mary Ostrom's Governing the Commons. Otherwise, all of anthropology.