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Tragedy of the Commons

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As a writing project, please look up "the tragedy of the commons" but specifically for the purpose of finding a critique of what you think it means to you. Many people today feel this is not an accurate view, and was developed partly in order to justify individual control and private ownership of resources, especially land. Please explain tragedy of the commons in your own words with 4 or 5 short paragraphs.

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When several individuals pursue their own economic interest "rational" in a resource such as open ocean or atmosphere access, the result is not the greatest good for the greatest number, but a disaster for all world. This is not rational. The privatization of the commons is a solution, in theory, safe way to prevent the tragedy of the commons is "mutual coercion, mutually agreed", ie a public sector asset.

For a demonstration of the tragedy of the commons, the image of a large open meadow for all is chosen. It is expected that each herdsman will try to keep as many cattle as possible on a common property. This strategy ...

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Opinion of "the tragedy of the commons" Comparison of various reviews analyzed, basis and justification.

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1. Suppose the U.S. government decides trim the budget a wee bit by eliminating a couple of departments (and their corresponding bodies of regulations). Gone are: The Food & Drug Administration (FDA) and the Occupational Safety & Health Administration (OSHA).
Briefly describe consumers' and workers' behavior after these bureaus (and their corresponding regulations) are eliminated.
This is a very general question and there is no one absolutely correct answer. I will be looking for sound economic reasoning above

2. Strictly in economic terms, are children normal or inferior goods? Construct your argument in terms of the income elasticity of demand. Be sure to include brief definitions of normal and inferior goods.

3. Describe the Tragedy of the Commons, provide a contemporary example, and offer a potential solution.

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