The Tragedy of the Commons

in ethereum •  8 years ago 

-Credit to  One Minute Economics

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Great short film - but the tragedy is not inevitable - there are many examples of common pool resources being well managed by those who have a shared interest in them - enough for Elinor Ostrom to win a Nobel Prize for Economics for her study of them

  ·  8 years ago (edited)

Tragedy from one perspective is always opportunity in another, and all situations are endlessly fluid. Decentralization eventually collects itself together when resources are abundant and turns to centralization, when the resources become scarce and crisis hits, the fearful become the brave, the explorers, or the disruptors who demand the system changes or else breaks down the centralized structure in a way that cannot be defended. Then the process repeats. Systems can get very complicated with intertwining cycles of centralization and decentralization.