The Tragedy of the Commons Explained in One Minute
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YouTubeOne Minute Economics
The Tragedy of the Commons Explained in One Minute
This concept, that William Forster Lloyd wrote about back in 1833, tells us a lot about... well, about ourselves. Watch this video and then think about some of the various situations in which humans only cared about their short-term self-interest throughout history. The tragedy of the commons tells us that such situations (in which we focus ...
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