Law Commons^™

The Tragedy Of The Commons And The Myth Of A Private Property Solution, Amy Sinden

University of Colorado Law Review

According to generally accepted wisdom of welfare economics, there are two potential solutions to the tragedy of the commons: 1) government regulation, or 2) privatization. Government regulation and privatization can usefully be distinguished from each other based on who answers the "how much" question. Under the former, government answers the "how much" question, and under the latter, the market answers it. When the U.S. environmental movement began in the 1970s, government regulation seemed the obvious choice. But in recent years, intellectual fashions have changed, and privatization has become the preferred solution. The privatization solution, however, is a myth that exists, …