Common Property Theory

Common property theory refers to a situation where resources are owned collectively by a group, rather than by individuals or the state. This means that everyone has access to these resources, like fisheries, forests, or water sources. The theory explores how communities can manage these shared resources sustainably to prevent overuse or depletion. It emphasizes that successful management relies on cooperation, clear rules, and a strong sense of community responsibility, highlighting the balance between individual interests and collective well-being. In essence, it addresses how groups can effectively share and protect resources for everyone's benefit.