What is common property?

When resources are unlimited, such allocation is efficient. If each of the users actually reduces the stock of this resource, then such an allocation is ineffective, it can lead to the complete depletion of the resource and in extreme cases, such as overfishing, to its destruction. Under the “tragedy of common property” is understood the danger of overuse of resources due to the lack of property rights to them. Upon reaching a certain level of intensity of use, it becomes necessary to introduce, in one form or another, rationing of consumption of “common property”. Rationing is carried out through the introduction of quantitative restrictions or payments for the use of resources.

Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.