What is Tragedy of the Commons in International Relations?

The tragedy of the commons is a concept in economics that refers to a situation in which a common resource is overused and eventually depleted, as each individual has an incentive to use as much of the resource as possible, but no individual has the incentive to conserve it.

The concept is often used to illustrate the problems that can arise when resources are managed in a way that does not consider the long-term sustainability of the resource. In such cases, individual users are motivated to maximize their own short-term gain, regardless of the impact on the resource or on others who depend on it.

The tragedy of the commons can occur in a variety of contexts, including in relation to natural resources such as water, land, and fisheries, as well as in relation to shared resources such as the airwaves or internet bandwidth.

To address the tragedy of the commons, it is necessary to adopt mechanisms that ensure the sustainable use of the resource, such as property rights, regulations, or incentives that encourage conservation.

Subscribe to the International Relations Updates by The Kootneeti

* indicates required

The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of The Kootneeti Team

Facebook Comments

The Kootneeti Team

This report has been written by The Kootneeti Team. For any feedbacks/query reach Editor@thekootneeti.com || Twitter: @TheKootneeti

You may also like...