Is Privatization Justified?

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In this paper, I will argue that privatization is the morally best justifiable solution for avoiding the tragedy of the commons. The tragedy of the commons is also commonly known as a collective action problem. Collective action problems are situations in which, if each person does what is individualistically rational then the result it collectively irrational. What went wrong during the tragedy of the commons resulted in everyone in the community to act in their own rational self-interest, which was to graze the land as much as they could so that their animals would survive the winter. However, due to its communal use, members over-grazed the West Quad leading to very little pastureland left. Everyone’s individual decision created an irrational