Question

The model used to explain why communities may over-exploit shared environmental resources even when they know that it may be against their long-term interests is known as:a. resource over-exploitation.
b. privatization.
c. the 'tragedy of the commons'.
d. 'exploit and move on'.

Answer 1

This phenomenon is called the 'tragedy of the commons' (c).

In a situation where a community shares a resource, the tragedy of the commons is when individuals collectively deplete the resource following their self-interest and going against the common good. It was theorized in 1833 by British economist William Forster Lloyd, but only became a widespread concept over a century later.

"The commons" refers to the shared resources.

Nowadays, this concept is used in the debate around global warming and environmental preservation, with the example of over-fishing, among others.