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Overconsumption of Resources and Garrett Hardin's „The Tragedy of the Commons“

Author

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  • Daniela Penkova

    (University of Economics, Varna, Bulgaria)

Abstract

In the face of global environmental crises, the overconsumption of natural resources is one of the major economic challenges of the 21st century. Garrett Hardin is known for his essay “The Tragedy of the Commons†, which warns us about the damage that the rational individuals inevitably cause to the environment if the natural resources are commons. The purpose of this paper is to analyze his arguments. The thesis is that the premises of his theory and the examples he cites do not prove the „tragedy of the commons“ and the need to privatize or nationalize them.

Suggested Citation

  • Daniela Penkova, 2024. "Overconsumption of Resources and Garrett Hardin's „The Tragedy of the Commons“," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 191–203-1, December.
    • Handle: RePEc:nwe:natrud:y:2024:i:4:p:191-203
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    More about this item

    Keywords

    natural resources; environment; Garrett Hardin; commons; property rights; sustainability; overconsumption;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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