Our nation is rapidly approaching a point from which there's little chance to avoid a financial collapse. The heart of our problem can be seen as a tragedy of the commons. That's a set of circumstances when something is commonly owned and individuals acting rationally in their own self-interest produce a set of results that's inimical to everyone's long-term interest. Let's look at an example of the tragedy of the commons phenomenon and then apply it to our national problem. Imagine there are 100 cattlemen all having an equal right to graze their herds on 1,000 acres of commonly ... MOREPREVIOUS COLUMN: Should Black People Tolerate This?
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