The tragedy of the Commons

1. What is Garret Hardin most concerned about?

Garrett Hardin is most concerned about the tragedy of the Commons, and the fact that each man is locked into a system that compels him to increase his herd without limit.

2. How can "the commons" best be defined?

The commons are the resources that are not owned by anything and are common resources. Everyone can use them, and take advantage or overuse those common resources.

3. Are individuals who overuse "the commons" acting irrationally? Explain.

Yes, individuals who overuse the commons are acting irrationally because they only care about their own personal benefit but not about other people's costs. to a certain extend, they are incredibly selfish and could not care less about other individuals using the Commons.

4. Besides the "common pasture", what other resources does Hardin identify as "commons"?

Hardin identifies the seas and oceans as 'commons', meaning that they are not owned by any government or firm.

5. What are some of the possible solutions he suggests for the problems faced by America's National Parks?

He says that we must stop to treat the national parks as commons because they are being overused and will soon be of no use to anyone. It would therefore be better to sell them to private firms or individuals. Individuals would preserve them because it would benefit them.

6. How are air and water different from pastures, the oceans, and national parks in the "tragedy" presented by the common resources?

Air and water cannot be fenced, therefore it is harder to regulate pollution and other negative externalities.

7. What are some of the possible solutions Hardin suggests for the "cesspool" tragedy represented by the pollution of our air and water?

He proposed to increase taxes or create coercive laws that would make it cheaper for firms to recycle and dispose of their wastes than to discharge them untreated.

8. How does the tragedy of the commons lead to market failure?

It leads to market failure because there are many negative externalities and there is an overallocation of resources.

Market Failures Commentaries

First article:
Rich countries driving pollution in poor countries

This would be a good article to write a commentary about because it deals with environmental problems leading to health problems, caused by rich countries polluting other parts of the world. This illustrates a market failure and negative externalities.

Second Article:

Globalization drives a bubble in Indonesian's seaweed market

This article would also be appropriate to write a market failure commentary on because it deals with an over allocation of resources towards the seaweed market in Indonesia.

Third article:

Room for more hospitals

This article would make a good commentary because it deals with the market failure in healthcare, especially the private healthcare system which has expanded in the last few years in Malaysia.