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Saturday, October 28th 2006

Tragedy Of The Commons & Medicine

Medrants has a great post on the idea of ‘Tragedy of the Commons’ and how it relates to health care costs and disparities.

The idea is how the very libertarian principle of “everyman for himself” is harmful when it comes to the overexploitation of public finite resources. For example, overgrazing a “common.”

Here is Wikipedia’s article on the thoery. You should however read DB’s post.