Question

in the state of arizona the use of groundwater has been aggressively managed since about 1980. Before that image, agricultural, commenvial and private demands for water were growing at levels that were not sustainable. Before water regulation of any sort, demand for water in all of its forms in the state of Arizona ilustrated:

Part A In the state of Arizona, the use of groundwater has O O O o cap and trade policy. the precautionary principle. a regulatory mandate. the tragedy of the commons. Submit Request Answer

Answer 1

The tragedy of the commons

"The tragedy of the commons" here means a situation in a shared- resource systems where individual users, acting independently according to their own self respect, behave contrary to the common good of all users by depleting or spoiling the shared resource through their collective action.

The theory originated written in essay in 1833, by a British economist, William Forster Llyod, who used a hypothetical example of the effects of uncontroled grazing on common land.  

The tragedy of commons is often cited in connection with sustainable development, meshing economical growth and environmental protection, as well as the debate over global warming. It has also been used in analysing behavior in the field of economics, evolutionary psychology, anthropology, taxation, etc.

The metaphor illustrates the argument that free access and unrestricted demand of a finite source ultimately reduces the resource through over exploitation, temporarily or permanently. The rate at which the depletion of resource is realized depends on three factors- number of users wanting to consume the common in question, consumptiveness of their uses, relative robustness of the common.

The same concept is sometimes called "The tragedy of the fishes" ,of because fishing too many fishes before or during breeding could cause stocks to plummet.

Solutions may include privatization, internalizing, externalities and regulations.