Hardin's Theory

Hardin's Theory, often illustrated by the "Tragedy of the Commons," explains how individuals acting in their own self-interest can deplete shared resources, ultimately harming everyone. When a common resource (like a pasture or fishery) is accessible to many, each person tends to use it as much as possible, risking overuse and depletion. Without regulation or cooperation, this collective behavior can lead to resource exhaustion, harming the community. The theory highlights the importance of managing shared resources sustainably through rules, cooperation, or privatization to prevent environmental and resource failures.