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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Week 6 Discussion (3)

Week 6 Discussion (3)

Q The tragedy of the commons’ is an economic formulation created by Garrett Hardin. It refers to a situation where individuals exploit scarce environmental resources for their own rational, self-interested aims. As the demand for the resource overwhelms the supply, over-production and the possible permanent depletion of the resource occurs. The solution to the tragedy of the commons is largely dependent on what is initially emphasized as problematic. Following the logic that self-interest is natural and healthy, there is a push for privatization, private property rights, voluntary regulation, and a free market economy. Following the logic that some resources in society are and must remain public and that self-interest would ultimately encourage individuals to pursue short-term gains rather than long-term benefits, there is a push for governmental management, regulation, forced incentives, policing, and a more socialistic nation. As the economic debate continues, and more and countries become interconnected through globalization, the need to protect and preserve collective goods is becoming increasingly important. However, the framework has changed. The tragedy of the commons is no longer simply individuals within a community learning to work cooperatively, it is entire societies, each bringing with it their own religion, culture, values, and history, needing to find commonality and agreement in how to share the earth’s finite resources. Foreign policy has responded this pressure by changing its isolationist policy to one of internationalism. The three basic tactics to maintain peace and manage resources in and between countries are: • Coercion • Rewards and punishments • Population control. QUESTION: Consider each tactic mentioned and provide a specific example of each being used today by a country or region. Have these programs achieved their goals? Have their been unintended consequences? In your opinion, which approach is more effective and why? Coercion-

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When discussing about coercion, China’s tactics should be taken into consideration because they are the one who practice economic statecraft since a long time. It was started by Deng Xiaoping in the year 1970s. In this regard, Central Foreign policy initiatives made by President Xi Jinping’s guidance. Many decisions of China have done economic damage to U.S. partners. The list also includes Japan and South Korea. One of the significant impacts of China’s use of economic coercion is the change in the U.S. Policy options that are connected with Asia. It is also resulted in constraints for U.S. Policymakers and other companies in the Global market.