Thirty years ago, an ecologist and professor named Garrett Hardin wrote a classic article in the journal Science titled “The Tragedy of the Commons.” His thesis was that individuals, acting in their rational self-interest, may ultimately destroy a limited resource over the long term.
To illustrate, Hardin used the metaphor of an open pasture – “the commons” – to which herdsmen bring their cattle to feed. The herdsmen understandably want to feed as many of their cattle as possible – or as Hardin put it “As a rational being, each herdsman seeks to maximize his gain.” It all works fine so long as there’s enough grass to feed all the cattle. As demand rises, however, the effects of overgrazing take a progressive toll on the commons, until ultimately they’re destroyed for everyone.
“Therein is the tragedy,” Hardin writes. “Each man is locked into a system that compels him to increase his herd without limit – in a world that is limited. Ruin is the destination toward which all men rush, each pursuing his interest in a society that believes in the freedom of the commons.”
Hardin’s focus was on the ultimate costs prompted by the individual freedom to have children without limitation – namely overpopulation and insufficient resources for the many.
Same thing happens in a world of limited resources.
In the financial sector, who's goal is profit. To generate ever more profit, institutions, hedge fund managers, brokers, investment advisers and mutual fund managers are competing and many times doing whatever necessary.
Sem comentários:
Enviar um comentário