The tragedy of the commons sometimes really is a tragedy
Private property drives prosperity. The Peruvian economist Hernando de Soto observed this in the developing world.
He saw that where property rights are respected, people tended to flourish. In places where collectivism ruled, they tended not to.
We are reminded by the author of the attached article that we Americans learned this lesson very early in our history.
Because both the Jamestown settlers and the Pilgrims in Massachusetts initially agreed on a system of collective ownership, where individual initiative was not encouraged, both groups nearly starved to death. After the institution of private property, however, where each man was able to keep the dividends of his hard work, the colonies became stable. Soon these buds of civilization would bloom into the United States of America.
In today’s America, the historic wealth creating and life saving principles called capitalism have been destroyed by a rapidly expanding state, driven by a utopian command cronyism model. Sadly, our New American economy is based on the same flawed collectivist idealism that the colonists first used upon settling our shores. A model that was also to blame for the “starving time’ in Jamestown and Plymouth.
Capitalism, with free prices and property rights, brings prosperity. Collectivism brings death.