Environmental Science
The Tragedy of the Commons in Shared Resource Management
Quick fact
The term was popularized by ecologist Garrett Hardin in a 1968 Science article, but the concept was known to Aristotle, who noted that 'what is common to the greatest number has the least care bestowed upon it.'
Why this is interesting
Imagine a pasture open to all. Each herder gains the full benefit of adding one more cow, but the cost of overgrazing is shared by everyone. What would you do?