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I thought tragedy of the commons was where decisions making sense on an individual basis end up being harmful when made en masse.
by jiggunjer 5y ago
I thought tragedy of the commons was where decisions making sense on an individual basis end up being harmful when made en masse.
- HWR_14 5y agoIt is. The tragedy of the commons is typically about how people not having to pay the full costs of their actions lead to negative results in total. So, for instance (and the naming action), a group of ranchers letting their animals all over-graze the same shared field. The other names also seemed not to describe the underlying question nor to describe each other. Reciprocal value is a way of describing transactions. Economics of Abundance vs. Economics of Scarcity are macroeconomic concepts relating to the money supply.