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Tragedy of the Commons - Essay Example

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Every day many harmful chemicals and dangerous fumes become part of our ecosystem and pollute water and air that may generate hazardous effects on living beings. Several international agreements…
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Tragedy of the Commons

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2) The extraction of fossil fuels such as drilling of oil or mining is not considered a tragedy of commons because the resource that is being extracted is not being stored; in fact, individuals are using it as per their needs. The term tragedy of commons was initially driven to describe the over usage of the available resource. In today’s world, the usage of oil consumption for example, has exceeded to great extent. Therefore, to fill this need extraction of such resources is necessary. Nevertheless, the general view of the economists is that fossil fuels are a tragedy of commons because due to its usage the natural resources become extinct. However, the stress is upon usage and not upon over usage. Therefore, it can be said that it is not a tragedy of commons; rather it is a need that is larger than the availability of the resource (Sustainable ...Download file to see next pagesRead More
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The Tragedy of the Commons
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