It was coined by an ecologist (Garrett Hardin), and (answering myself here after finding out) famously rebutted by the economist Elinor Ostrom, who won the Nobel Prize for her work. So tragedy of the commons, while a real phenomenon and can happen, is not inevitable by current understanding.
Like in a lot of things, the devil is in the details.
Did they really?
I thought one solution to the tragedy of the commons is regulation from above. E.g. limits on resource use.
How would privatization help here?
Was it ever actually a problem, or some BS made up by “economists” to justify privatization of public resources.
It was coined by an ecologist (Garrett Hardin), and (answering myself here after finding out) famously rebutted by the economist Elinor Ostrom, who won the Nobel Prize for her work. So tragedy of the commons, while a real phenomenon and can happen, is not inevitable by current understanding.
Like in a lot of things, the devil is in the details.
Did they really? I thought one solution to the tragedy of the commons is regulation from above. E.g. limits on resource use. How would privatization help here?