Which modern author presents the current interpretation of the tragedy of the commons? a) Garrett Hardin b) John Elkington c) Milton Friedman d) Edward Freeman

Business Dec 25, 2020

Which modern author presents the current interpretation of the tragedy of the commons?

a) Garrett Hardin

b) John Elkington

c) Milton Friedman

d) Edward Freeman

Expert Solution

The correct answer is option a) Garret Hardin

The common tragedy is an economic dilemma in which every person has an opportunity to consume a resource but at the cost of every other person with no means of excluding others from consuming it. It was initially conceived by asking what would happen if every shepherd allowed their flock to graze on the common plain, acting in their own self-interest. If anyone behaves in their own best interest, it leads to risky over-consumption.

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