The basic idea of dealing with issues of the tragedy of the commons is to come to a common agreement and then enforce that agreement by punishing people who violate it.
That’s one way. Another usual and frequently successful way is to introduce property rights.
It’s not another way it’s an example of the same way.
Property rights are a common agreement. Certain individuals own certain things. If an individual violates that agreement about who owns what, they get punished.
For environmental pollution the system is cap-and-trade.
As far as big pharma goes patents are also a crucial part of the system.
That’s one way. Another usual and frequently successful way is to introduce property rights.
It’s not another way it’s an example of the same way. Property rights are a common agreement. Certain individuals own certain things. If an individual violates that agreement about who owns what, they get punished.
For environmental pollution the system is cap-and-trade.
As far as big pharma goes patents are also a crucial part of the system.