The Tragedy of the Commons: It is an economics theory by Garrett Hardin, where a few exploit the common resources more and selfishly without caring the common good of all. On the other hand putting the rest of people to a disadvantage. Example crony capitalism, corruption, exploiting resources like mining etc. Nobel Prize-winning economist Elinor Ostrom and other are of view that if commons are limited to locals the problem can be overcome, but when the common is infected by non-locals then the balance has tipped dangerously for locals. PS: This is neither religious, nor political post, nor in anyway I am implying friends of sahib etc... So please keep away from this post. Only people with academic interest may participate in debate if any.
Posted on: Wed, 03 Dec 2014 09:16:11 +0000
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