Tragedy of the Commons and Potato Chips

in #economics3 years ago


An analogy can be drawn of the tragedy of the commons as it relates to giving many children a pile of chips and letting them free to fight for the chips. Everyone hordes as many chips as possible for himself/herself. The strong always beat the weak and take the most, fighting often ensues.   

The solution is private property where everyone is allotted a specific amount of chips, no fighting ensues. Everyone understands that there is no public pile of chips to fight over.    

In a world of scarce resources and infinite desires there must be a rational way to allocate these scarce resources so their value is not wasted and plundered. Private ownership by means of 1st user rights, homesteading, or gifting may solve this problem. Individuals take care of their property and ensure that it remains viable and sustainable for future use.   


Tragedy of the Commons and Potato Chips   



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The solution is private property where everyone is allotted a specific amount of chips, no fighting ensues.

I've seen people turn this argument so badly. They'd say that the government should allot the chips, because if not, Tragedy of the commons blabla. Like what the heck... For instance, in an interview with @adamkokesh there was this socialist politician or activist (can't really remember) who used the tragedy of the commons in favor of her argument.

Wow! A politician using the tragedy of the commons to favor her argument!? That's tragic and funny simultaneously! :-)

I think this is the video:

Ahh ok. Yes I've seen that one. I love Adam's questioning style, very non-confrontational yet effective. I try to emulate him in that regard.