how did Thomas Robert Malthus describe the tragedy of the commons?
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how did Thomas Robert Malthus describe the tragedy of the commons?
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Answer:
In economic science, the tragedy of the commons is a situation in which individual users, who have open access to a resource unhampered by shared social structures or formal rules that govern access and use,[1][2] act independently according to their own self-interest and, contrary to the common good of all users, cause depletion of the resource through their uncoordinated action.[3] The concept originated in an essay written in 1833 by the British economist William Forster Lloyd,[4] who used a hypothetical example of the effects of unregulated grazing on common land (also known as a "common") in Great Britain and Ireland.[5] The concept became widely known as the "tragedy of the commons" over a century later after an article written by Garrett Hardin in 1968.[6]
Explanation:
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