Public-Private Paradox: Colin Jerolmack

OCCUPY!: An Unfinished Uprising · May 12, 2021 · 34m

Public-Private Paradox:

America has clearly delineated public and private domains: the public domain is regulated, and the private domain is not. A public-private paradox occurs when a decision made in the private domain creates issues in the public domain. In the case of fracking, choosing to allow drilling in your land is a private decision. That decision creates many externalities such as overuse of roads, unwanted sights and sounds, contaminated well water for the neighborhood, which harms the public good.

Tragedy of the Commons

The Tragedy of the Commons explains how individual decisions…