Jun 7, 2022 • 26M

The Tragedy of Misunderstanding the Commons

How do we control the use of shared resources and land? The theory for the tragedy of the commons suggests, unfettered, we will destroy common resources through collective greed.

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Steve Keen
Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.ems-based alternative to mainstream economics
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The Tragedy of the Commons is a concept developed by William Forster Lloyd one hundred and fifty years ago. The argument is that if you allowed everybody to graze their cattle on common ground, with nobody in charge, the land would be overgrazed and the individual pursuits of many will result in destruction for all. So, do you put someone in charge, who…

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