33 | Parcels
Is it generally best to convert an unregulated commons to smaller private parcels, or manage it as a commune with power to exclude non-members? It depends on what kind of problem the property regime is intended to solve.
The Tragedy of The Commons
In this video, we take a look at common goods. Common resources are nonexcludable but rival. For instance, no one can be excluded from fishing for tuna, but they are rival — for every tuna caught, there is one less for everyone else. Nonexcludable but rival resources often lead to what we call a “tragedy of the commons.”