The tragedy of the commons is a term that frequently enters climate change discussions. It symbolises what happens to a common resource when used across multiple users. Because it is shared among many, consumers stop acknowledging the other users, and if you leave the market free for all, the resource vanishes in no time.
Does that mean a solution is not possible? The answer is yes. In the original format, the game is played only once, whereas, in real life, the consumers get several chances course-correct their actions. In the case of climate change, there was a phase that was dominated by the exploitation of resources with no thinking about the consequences (global warming). But once the understanding came, there were plenty of opportunities created by the likes of UNFCC that resulted in a Kyoto protocol or a Paris agreement. In other words, cooperation is possible and can alter some of the eventualities of the tragedy of the commons.
