![]() ![]() Men pay most attention to what is their own: they care less for what is common." The foundation for scholarly discussion of the topic however came in an 1833 essay by British economist William Forster Lloyd. ![]() Aristotle wrote that "That which is common to the greatest number gets the least amount of care. The concept of unrestricted-access resources becoming spent, where personal use does not incur personal expense, has been discussed for millennia. If users of such resources act to maximise their self-interest and do not coordinate with others to maximise the overall common good, exhaustion and even permanent destruction of the resource may result, if the number of the users and the amount they demand exceeds what is available. The tragedy of the commons is a phenomenon described in economics and ecology in which common resources, to which access is not regulated by formal rules or fees /taxes levied based on individual use, tend to become depleted. ![]()
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