The Tragedy of the Business Commons
Manage episode 334533791 series 3193610
A widely known term, at least in academia, is “the tragedy of the commons.” The term “commons” describes a resource that everyone can use at no cost, such as air. Professor of Law at Harvard Law School Lawrence Lessig explains that the tragedy is that when there is a limited amount of a commons, the competition over it causes its depletion because people work out of self-interest, whereas if they were considerate, everyone would have enough.
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