Example Of Essay On Economics

Good for Me, Good for you, Bad for us

Good for Me, Good for you, Bad for us
When the economist sing the line, “Good for Me, Good for you, Bad for us” repetitively, it is a representation of the plights of the Commons in light of the exploitation of the resources of the environment. The title of the video refers to a tragedy faced by the Commons ("Tragedy of the commons, 2009, p. 1). These are the people involved primarily in the production of goods and services for the other consumers in the society. They are referred to as the Commons because they are the least beneficiaries of the resources generated from the environment.
As much as they are the ones involved actively in the process of making consumption possible for the other groups, the commons feel the negative effects of the exploitation of the resources rather than the benefits. The natural resources in question are faced with numerous threats, which implies that the commons may not have a source of livelihood in the future. Other people in the community enjoy all the benefits such as animal meat and a dumping site for the wastes generated by their machines, which is good for them. However, the destruction of these resources is bad for the commons.

The Common Pool Resources

These resources benefit all members of the society regardless of their social standing. The first resource identified in this context is forage or pasture used to feed animals in the society. Pasture faces the problem of overgrazing where the farmers seek to maximize the revenue generated from each of resources without considering the repercussions that accrue to the pasture resources ("Tragedy of the commons, 2009, p. 2). They keep a higher number of animals on a certain piece of land, which cannot sustain the animal population. It leads to overgrazing and an eventual lack of pasture during certain periods, as the farmers have to wait for the resources to rejuvenate. In the end, there is a shortage of supply in products such as meat and the commoners are the ones of who suffer the lack of income. The society has tried to regulate overgrazing through controlled stocking of animals on ranches and the development of alternative sources of protein.
Fisheries are also prone to the risk of overexploitation. As the human population grows in all parts of the world, there is growing pressure on the sea resources to provide fish, which is a rich source of protein food for the population. The pressure implies that commoners have to extract more fish to meet the high demand in the market. As such, the fish do not have adequate time to rejuvenate and reproduce for exploitation by the future generation. The situation is bad for those depending on the fishery resources because they may not have a source of livelihood in the future. In fact, some fish species are already extinct due to the rapid rate of exploitation by the anglers. Today, several countries have strict regulations governing the exploitation of fish.
The atmosphere is also the subject of massive destruction through pollution. The manufacture and use of vehicles in the whole world coupled with large-scale industrial production encourages the depletion of the air resources leading to unclear atmospheric conditions that affect the commoners through diseases. However, several countries are encouraging the use of renewable sources of energy such as electricity, which are harmless to the atmosphere.

References

Tragedy of the commons. (n.d.). Retrieved from https://www.youtube.com/watch?v=fNhr2RNhw5w&feature=related