Here’s a quick story to observe World Environment Day and illustrate the difficult balance in managing natural resources. In 1968 Garrett Hardin wrote this article to describe a common grassland in which several farmers allow their cattle to graze. In order to increase individual wealth, it is in the interest of each farmer to enlarge their herd and continue to graze on the same piece of land. But after the threshold of a certain number of cattle is exceeded, the quality of the land... [read more]