Are All Commons Tragedies?
The Case of Bison in the Nineteenth Century
By Peter J. Hill
The near extermination of the North American bison is widely viewed as a case of the overuse of an open-access resourcea classic example of the tragedy of the commons. This tragic view, however, ignores the rising opportunity cost of grasslands that could support a more commercially viable commodity: cattle.
|Other Independent Review articles by Peter J. Hill|
|Spring 2020||The Keynesian Revolution and Our Empty Economy:Were All Dead|
|Summer 2017||Judeo-Christian Thought, Classical Liberals, and Modern Egalitarianism|
|Winter 2013/14||Stories Economists Tell:Studies in Christianity and Economics|
|[View All (6)]|