"We are, quite literally, gambling with the future of our planet- for the sake of hamburgers" ~ Peter Singer

Welcome to the 153th Daily Field Note! Here you find the top post of the day, one covering each scientific field that is included by Geopolis. Since these authors put a lot of effort in writing a good post they surely deserve the extra exposure.

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Ecology: Economics and the Environment Part 3: The Tragedy of the Commons

Original post by @mountainwashere

In 1883, British economist William Forster Lloyd postulated a scenario in which the village commons- a parcel of land shared by the village in which anyone could graze their animals- could be grossly overgrazed simply by everyone acting in an individually rational fashion by grazing as many animals as they could on the commons. He called it the Tragedy of the Commons. It was one of the first, and most influential, examples in economics of an understanding of how behaviors on one scale can be rational, but on another scale those identical actions are completely irrational- and it became a huge deal eighty years later when an ecologist got a hold of the idea.

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