Tragedy of the Commons

The “Tragedy of the Commons” refers to a situation in which individual users, acting inDependently according to their self-interest, deplete or spoil Shared resources, ultimately harming the collective good. This occurs when individuals disregard the long-term consequences of their actions, leading to overuse and degradation of the resource.

For example, overfishing in international waters leads to depleted fish Stocks, affecting marine ecosystems. Similarly, the overgrazing of public lands by liveStock can result in soil degradation and reduced biodiversity. Historical cases include the overexploitation of the Atlantic cod fishery and the deforestation of common lands in medieval Europe.