Common Goods Theory

Common Goods Theory refers to the concept that certain resources or benefits are shared by everyone in a community, and are therefore considered a collective responsibility. These goods, such as clean air, public parks, and national defense, provide value to all individuals and are crucial for societal well-being. The theory suggests that while individuals may have personal interests, managing and maintaining these common resources requires cooperation and collective action to prevent overuse or depletion. Essentially, it highlights the importance of working together to protect and sustain resources that benefit everyone.