EVERYDAY SCIENCE

Detailed explanation-1: -In 1968 the publication of Hardin’s The Tragedy of the Commons was a significant step to understand the issues concerning the management of the common pool resources and integrity of global environment.

Detailed explanation-2: -In 1968, the term “tragedy of the commons” was used for the first time by Garret Hardin in Science Magazine. This theory explains individuals’ tendency to make decisions based on their personal needs, regardless of the negative impact it may have on others.

Detailed explanation-3: -The tragedy of the commons is a problem in economics that occurs when individuals neglect the well-being of society in the pursuit of personal gain. This leads to over-consumption and ultimately depletion of the common resource, to everybody’s detriment.