The Tragedy of the Commons (by Garrett Hardin)

The Tragedy of the Commons, a concept popularized by Garrett Hardin, describes a situation where individuals, acting in their own self-interest, overuse and deplete a shared resource. Imagine a pasture that everyone can use for grazing their cattle. If each farmer adds more cows to maximize their profit, the pasture becomes overgrazed, leading to its degradation and ultimately harming all who depend on it. This highlights the conflict between individual interests and the collective good, suggesting that without mutual agreement and management, common resources can be destroyed, emphasizing the need for cooperation to sustain shared assets.