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Tragedy of the Commons

The tragedy of the commons is a situation in which individuals acting in their own self-interest behave contrary to the common good of all others by depleting or spoiling a shared resource through their collective action. The phenomenon was first described by the British economist William Forster Lloyd in 1833. Lloyd observed that because grazing on the commons (fields that were open to anyone) was free, the land was spoiled, which diminished the value of the fields for everyone. Can you think of a free resource that’s possibly subject to the same tragedy? Sharks might! SUPPORT us to discover more econ concepts!   / sprouts   🐦: DOWNLOAD video without ads and background music 🤫: https://sproutsschools.com/video-less... SIGN UP to our mailing list and never miss a new video from us 🔔: http://eepurl.com/dNU4BQ SOURCES and teaching resources 🎓: https://sproutsschools.com/tragedy-of... CONTRIBUTE by upvoting your favorite topic or suggesting new ones : https://sprouts.featureupvote.com/ THANKS to our patrons This video was made with the support of our Patrons: Adam G, Badrah, Andrea Basilio Rava, Angela, Bettina Kind, Brilliant Minds Learning, Broke, Cedric Wang, Daniel Kramer, David Markham, Denis Kraus, Digital INnov8ors, Don Bone, Enrique Arellano Farias, Esther Chiang, Eva Marie Koblin, Gatsby Dkdc, Ginger, Hal Beltran, Ich kann Deutsch und es war einfach, Jannes Croon, Jeffrey Cassianna, Joanne Doyle, Johan Klassen, John Zhang, Jonathan Schwarz, Judy Roland, kritik bhimani, Liskaya, Marcel, Margaret Grace, Maria, Marq Short, Mathis Nu, Mezes.Macko, Muhammad Humayun, Nancy Bueffler, Okan Elibol, Peter Bishop, Petra, Raman Srivastava, Raymond Fujioka, Reynir Örn Bachmann Guðmundsson, Robert Cook, Scripz, Shao Xiang, Sergei Kukhariev, Si, Susan Schuster, Stephen Clark, Stephen, Tetiana Gerasymova, Tristan Scifo, Tsungren Yang, Victor Paweletz, Vishruth Harithsa, Wolfgang Vullhorst and all the others. Thank you! To join them visit www.patreon.com/sprouts COLLABORATORS Script: Jonas Koblin Artist: Pascal Gaggelli Voice: Mithril Coloring: Nalin Editing: Peera Lertsukittipongsa Head of Partnership Program: Selina Bador Production: Morgan Lizop, Bianka Proofreading: Susan Sound Design: Miguel Ojeda Classroom exercise: Morgan Lizop SOUNDTRACKS Toys Are Alive - Studio Le Bus Terror Avenue - Jack Pierce DIG DEEPER with these resources: Bruce Yandle talks about the tragedy of the commons and the ways that people have avoided the overuse of resources that are held in common. Examples discussed in this econtalk include fisheries, roads, rivers and the air. Learn about carbon tax as a solution for polluting the air and reducing carbon emissions. Carbon taxes are intended to make visible the "hidden" social costs of carbon emissions, which are otherwise felt only in indirect ways like more severe weather events. SOURCES Tragedy of the commons https://en.wikipedia.org/wiki/Tragedy... Plastics in ocean http://www3.weforum.org/docs/WEF_The_... Swiss alps law https://www.csub.edu/~craupp/psyc332/... Age of Humans https://www.universetoday.com/38125/h... Age of Sharks https://www.nhm.ac.uk/discover/shark-... Homework assignment https://economicskey.com/the-tragedy-... CLASSROOM EXERCISE Don’t Kill The Rabbit! To experience the tragedy of the commons first hand, here is a group game. The game has four elements: A circle = the commons Participants = farmers Carrots = food Rabbits = animals to be fed Getting started: Choose a number of people (say 5) to do this exercise with. On an erasable board, draw a circle, then draw carrots in it (say 20). Give each participant a secret note with a number on it (say: 1, 3, 1, 1, 4). This number represents how many rabbits each participant has to feed. Each rabbit needs to eat at least one carrot per round to stay alive. Ask participants, one after the other, to take as many carrots from the circle as they want. At the end of the round, double the amount of all the carrots that are left. Then continue to play round after round until all carrots are gone and the first rabbit dies. The first time you do this, make sure you have exactly twice as many carrots as there are rabbits to feed so that if everyone picks just what they need (the carrots are replenished). What do you observe? Are the commons being depleted and do the rabbits die? Try to do this again with a different number of carrots, letting participants tell each other how many rabbits they are feeding, or with settings we haven’t thought of. Let us know what you observe in the comments below. Chapter 00:00 Introduction 00:47 Tragedy of the Commons theory 01:31 Social Norms 02:01 Privatization 02:33 State Regulation 03:50 What do you think? 04:15 Ending