So what happened after the land [in Zimbabwe] was redistributed beginning in 2000 and all of it made communal? After reform the land quality worsened everywhere. In particular, note that the blue lakes and ponds on the right became dry and empty as farmers no longer had an incentive to invest in maintaining these resources.
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Thursday, March 18, 2010
Satellite photography and the tragedy of the commons
Alex Tabarrok:
Labels:
economic policy,
unintended consequences
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