Tragedy of the Commons - 1.2

Question 1

Optimizing for the self in the short term isn;t optimal for anyone in the long term: true or false, and provide example.

Answer 1

True, fish pond

Question 2

A coal-fired power plant produces cheap electricity for its customers, the company fills its pockets, and customers get to use electricity, but sadly this is bad for the long run and an example of

Answer 2

tragedy of the commons

Question 3

What are other examples of tragedy of the commons?

Answer 3

Littering, water shortages, defoestation, traffic jams, purchase of bottled water

Question 4

When the tragedy of the commons applies, what’s good for all of us, is good for each os us.

Answer 4

Hardin’s Lesson

Question 5

Environmentalists use the metaphor of earth as a “spaceship” why?

Answer 5

Trying to persuade countries, industries, and people to stop wasting and polluting our natural resources

Question 6

A situation in which individuals act in their own self-interest and behave contrary to the common good of all others by depleting a shared resource.

Answer 6

Tragedy of the commons

Question 7

Because the world is finite, the population is supports must also be finite, and population growth must at some point reach zero.

Answer 7

Malthusian Imperative

Question 8

Instead of government’s controlling the economy, the people should control the economy themselves with markets and demand. That way the economy will take its natural course as people buy and sell, and it’s as if there is an ___ hand controlling everything. What is this called?

Answer 8

invisible, Adam smith’s invisible hand

Question 9

What are solutions to the commons? (Hardin uses the ex of national park access)

Answer 9

privatize, allocate use rights(by wealth, merit, lottery), first-come first-serve

Question 10

When too many people own pieces of one thing, nobody can use it. A single resource has multiple owners, and the property is not used to its full potential

Answer 10

Tragedy of the anticommons