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Ultimately it’s a tragedy of commons situation and in these instances the only solutions are rigorous regulation or internalization of the costs of externalitie
by protoman3000 5y ago
Ultimately it’s a tragedy of commons situation and in these instances the only solutions are rigorous regulation or internalization of the costs of externalities. Both won’t happen, because the politics behind it are also a tragedy of commons.
- dredmorbius 5y agoNit on economic dynamics: more a Greesham's Law circumstance (bad or no regulation drives out good) than a tragedy of the commons (uncontained resource allocation leads to global overuse). They're similar, but have some significant and relevant distinctions.
- protoman3000 5y agoI knew Greshams law in scope of bad money driving out good money. Can you please elaborate more?
- dredmorbius 5y agohttps://old.reddit.com/r/dredmorbius/comments/2h63fp/is_greshams_law_a_special_instance_of_a_more/ https://old.reddit.com/r/dredmorbius/comments/2h63fp/is_gres...