Tragedy of the Commons
/ˈtrædʒɪdi əv ðə ˈkɒmənz/
Definitions
- (n.) A legal and economic concept describing a situation where individuals, acting independently according to their self-interest, deplete a shared limited resource despite understanding that depleting the resource is contrary to the group's long-term best interests.
The tragedy of the commons is often cited in environmental law to explain the overuse of public lands and resources.
Forms
- tragedy of the commons
Related terms
See also
Commentary
This term is crucial in discussions of resource management and environmental regulation; drafting legal provisions to mitigate such tragedies often involves balancing individual rights against collective restrictions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.