An analogy can be drawn of the tragedy of the commons as it relates to giving many children a pile of chips and letting them free to fight for the chips. Everyone hordes as many chips as possible for himself/herself. The strong always beat the weak and take the most, fighting often ensues.
The solution is private property where everyone is allotted a specific amount of chips, no fighting ensues. Everyone understands that there is no public pile of chips to fight over.
In a world of scarce resources and infinite desires there must be a rational way to allocate these scarce resources so their value is not wasted and plundered. Private ownership by means of 1st user rights, homesteading, or gifting may solve this problem. Individuals take care of their property and ensure that it remains viable and sustainable for future use.
Tragedy of the Commons and Potato Chips – Steemit
Podcast: Play in new window | Download