The Tragedy of the Commons Explained in One Minute

This concept, that William Forster Lloyd wrote about back in 1833, tells us a lot about... well, about ourselves. Watch this video and then think about some of the various situations in which humans only cared about their short-term self-interest throughout history. The tragedy of the commons tells us that such situations (in which we focus exclusively on our self-interest and refuse to see the bigger picture) can have devastating effects for society as a whole. Please like, comment and subscribe if you found the video interesting. To support the channel, give me a minute (see what I did there?) of your time by visiting and reading my message. Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to oneminuteeconomics@, any and all support is greatly appreciated! Oh and I’ve also started playing around with Patreon, my link is: Interested in reading a good book? My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we’re talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below: Amazon - Barnes & Noble - iBooks (Apple) - Kobo - My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below. Amazon - Barnes & Noble - iBooks (Apple) - Kobo - Last but not least, if you’d like to follow me on social media, use one of the links below: