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What is the tragedy of the commons and why is it problematic

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What is the tragedy of the commons and why is it problematic? How does the example of grazing sheep on unregulated, shared (or public) land help illustrate the tragedy of the commons? Likewise, how does the example of fishing in unregulated, shared (or public) waters help illustrate this tragedy? What are some modern day examples of the tragedy of the commons? Finally, what are some ways to avoid this tragedy? Please be specific.

Reference no: EM131473979

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