(Video) Tragedy of the Commons

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Video Description:
The semantics of the model I'm working from use common goods/common property/ common pool resources (resources used by multiple people) and common property regimes (the institutions or social arrangements between people, the property rights regarding common pool resources). We were taught that "the commons" is sort of an old term. It has issues because it blankets both common pool resources with no communication, no rules, no accountability, no punishment for those who break the rules, etc. (open access) and common pool resources with some cooperation or institution in place (common property regimes).  

When you get away from those aspects that allow people to trust one another and work together, the system looks like an open access system. The tragedy of the commons model describes what happens in that open access system. But not what happens when a common property regime is in place. But the term "commons" doesn't distinguish between the two.  

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