Future Hindsight

Public-Private Paradox: America has clearly delineated public and private domains: the public domain is regulated, and the private domain is not. A public-private paradox occurs when a decision made in the private domain creates issues in the public domain. In the case of fracking, choosing to allow drilling in your land is a private decision. That decision creates many externalities such as overuse of roads, unwanted sights and sounds, contaminated well water for the neighborhood, which harms the public good. Tragedy of the Commons The Tragedy of the Commons explains how individual decisions pertaining to common resources can lead to degradation of that resource, hurting everyone. It’s in everyone’s own best interest to use as much of a common resource as possible, because if they don’t, someone else will. Unfortunately, when everyone does this the shared resource is often quickly degraded. In the case of fracking, many landowners decided to lease land because their neighbors were doing it, and choosing not