Yandle on the Tragedy of the Commons and the Implications for Environmental Regulation

Bruce Yandle looks at the tragedy of the commons and the various ways that people have avoided the overuse of resources that are held in common. Examples discussed include fisheries, roads, rivers and the air. Yandle talks with host Russ Roberts about the historical use of norms, cooperative ventures such as incorporating a river, the common law, and top-down regulation to reduce pollution.