4.2. How to Deal with the Tragedy of the Commons

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Из курса от партнера University of Illinois at Urbana-Champaign

Microeconomics Principles

658 оценки

University of Illinois at Urbana-Champaign

Microeconomics Principles

658 оценки

This course offers an introduction to the functions of individual decision-makers—both consumers and producers—within the larger economic system. Emphasis is on the nature and functions of product markets, the theory of the firm under varying conditions of competition and monopoly, and the role of government in promoting efficiency in the economy. Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to: -the environment -love and marriage -crime -labor markets -education -politics -sports -business My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues, but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!

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Public Goods, Common Resources, and Externalities

And so we have arrived at the last week. This course has gone too fast! This module we will be discussing market failures. A market failure is a situation when the market does not do a good job of distributing resources among members of society. In fact, in all of these cases the market IS the problem.

4.1. The Tragedy of the Commons8:16

4.2. How to Deal with the Tragedy of the Commons4:37

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Dr. José J. Vázquez-Cognet
Clinical Professor
Department of Economics

[MUSI So how do we solve the problem of the tragedy of the commons.

But when you think about it, the issue with the common resources is really that

there's no property rights. Think about the issue when, the problem

when we were talking about the fishery. If you can get the rights to the one

person for controlling the resources, and that person will actually probably use it

efficiently like when we talk about the example of one person owning the A boats.

So therefore to solve the problem of the commons, It's, it's going to require some

measure of giving property rights or transferring the property rights in some

way and controlling the access to it. So there are different ways that our

governments have tried to do this. A common one for a resource like, fish Is

quotas, right? So you have a particular, the, the, the

rights of the, of the area that the people fish are given to the community, let's say

to a, to a fishing community, and they can establish quotas that would allow the

fishery to be used in a, in a sustainable way or an efficient way, right?

Now that's really hard to do because, you know, the water, the waters are open

access so you, it's, It's kind of difficult to control access to different

parts of, of the oceans. But that's one way of, of doing it, if you

give the, the rights to the community. Then the community as a whole, will be

able to perhaps, try to use their resources more effectively.

In the U.S., for, things like, species accessation, and so forth, we, and

hunting, we have hunting licenses that we give or fishing licenses.

And that is one way that the, the government tries to control the resource

or take, take ownership of the resource and use it in a way that is more

sustainable that is more efficient instead of just giving people free access to it.

For things like, slike sort of highway congestion, right?

Which is another common resource when you have a lot of people using the highway.

And then everyone ends up spending more time in the traffic and so forth,

everyone's putting more cost into it. One things that the governments have done

is to put tolls, right, so there's a particular amount of money you have to pay

to drive on a particular road. Now a lot of roads, it's difficult to do

that and, and politically it's a very tricky thing to actually put more tolls

because consumers should always demand you know, tolls to be roads to be free since

they are paying taxes on it. But on the other hand more, a lot of

economists will say, well, you know, but the, the result of everyone, however,

having free access to the roads is that it will be in a traffic jam.

So in the, in the high populated cities in the US like Houston and you know, the

corridor between Houston and Austin and San Antonio and Austin in Texas and also

in places like Chicago where they have a lot of traffic congestion.

Government have suggested or have play around with the idea of, what I call,

congestion pricing. Which is a road in which a toll, the

access to the road is controlled by a toll.

And the toll price changes according to how much traffic the road has.

And some of the experience at that, you know, the places that have actually done

this, and probably the main one we have in Texas.

I've actually seen very a lot of success. I mean the, the, the traffic on those

roads. I have actually being decreased quite

dramatically and people can drive, well, faster and get to their places faster, but

it is a really difficult thing to sell, for government officials, that people have

to pay higher price for roads. But now that you're, you know, taking an

economics class, now you understand that there's, that there's, there's two sides

to, to every story and, and the other side of letting people.

Free access to, to the highways doesn't mean that they're actually going to use

the highways for free. The cost of using the highways is the fact

that you'll have to put up with traffic congestion.

Now, turn yourself other ways of solving the common research.

A lot of them have to do with the topic that we're going to talk in the next

section. Which is the topic of externalities.

So I'm going to, we're going to list some of those, policies to when we talk about

externalities in the next session. Produced by OCE atlas digital media at the

University of Illinois Urbana Champaign.

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