The overgrazing of Texas Longhorn steers on public range land exemplifies the tragedy of the commons. This concept describes a situation where individuals, acting in their own self-interest, deplete shared resources, leading to negative consequences for the entire community. In this case, overgrazing occurs because multiple ranchers utilize the same public land for their cattle, which can ultimately lead to the degradation of that land and reduced resources for everyone.
The overgrazing of Texas Longhorn steers on public range land exemplifies which of the following?
Lax government regulators.
Free enterprise conserving common resources.
The adverse selection problem.
The tragedy of the commons.
1 answer
1 answer