What is the Tragedy of the Commons

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=MLirNeu-A8I

Unfortunately, there are strong incentives for people to exploit these resources when they are held in common by everyone. As Prof. Sean Mulholland at Stonehill College explains, the 'tragedy of the commons' occurs when individuals acting independently end up depleting shared resources, such as fisheries or pastureland. Prof. Mulholland discusses two potential solutions to this problem: public ownership, where the property is owned and administered by the government, and private ownership. He discusses the strengths and weaknesses to each approach and some key considerations for determining which institutions best protect useful resources. • SUBSCRIBE: • http://bit.ly/1HVAtKP • FOLLOW US: • Website: https://www.learnliberty.org/ • Facebook: / learnliberty • Twitter: / learnliberty • Google +: http://bit.ly/1hi66Zz • LEARN LIBERTY • Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP

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