Group items tagged

This article in "The Economist" discusses differing arguments that support the idea that different radio frequencies should either need to be reserved, and thus be a form of private goods, or be common access resources that could be used by everyone. A specific example that is discussed is the American Federal Communications Commission (FCC) which manages the private reservation of radio frequencies. Overall, I found this interesting as it discusses a new common resource that has arisen due to a development in technology.

The article is a special example of a common good, as it gives us an example of a private property that is now going to be opened to the public. Lisa and Leon Gorman, the prior owners of Lane, an island near the mouth of the royal river in Yarmouth, have donated their private property to the Main Coast Heritage Trust. The Island formerly being a private hunting territory shall now become accessible to the public. It has been recognized as an "ecologically significant site" and shall now become part of Royal River which is being restored and protected. A long-term management plan is being developed, which includes the economic vitality as well as the significance of ecological protection of the Island and its surroundings. Although in a slightly different scenario, this article could give us an example of Elenor Ostroms theory of effectively sustaining resources through a self-motivated community.

This article from the guardian retells the UN's findings of how the oil industry (which operates on common access resources) is harming the Amazon (another common access resource)

This article talks of the results that happened in Cuba when they abolished all private property rights and turned to communism. This eventually led to the collapse of the Cuban economy. The article mentions, "On the eve of the Cuban Revolution about 80 percent of Cuba's arable land was under cultivation (or used for grazing) and domestic production supplied 70 percent of the country's food consumption." Over grazing of the fields led to similar tragedy of the commons.