The Tragedy of the Commons and other tales

News that Norway (on 3D le journal a radio programme with Stéphane Paoli - France Inter Radio 10/6/2012) has extended its territorial claim to areas of the arctic liable to hold reserves of oil with a view to eventually drilling for the black liquid show that ecology and 'green' values fly out the window when money and 'resources' start to do the talking.

We are told that self interest (aka greed) is what makes the world of capitalism and the economy work and that it is right to grab as much of whatever you can so that nobody else does. The consequences of all this self-interest are of no matter, even if they involve the eventual destruction of life on Earth.

In game theory this behaviour is described in the dilemma of the 'Tragedy of the Commons'. We would all like to preserve the common land for the good of all, but we are fearful that others might take more than us. Therefore we try to appropriate the whole resource for ourselves. Everyone else does the same. Result: nothing left for anyone. We seem to be trying this out on a planetary scale.

Adam Smith, one of the fathers of modern economic thinking and of capitalism is reputed to have condoned all this avarice, even encouraged it in his writings. It would seem however that Smith might have been writing about enlightened self-interest not Gordon Gekko style 'greed is good'.

It is important to make this distinction. As human beings we naturally wish to improve our personal lot and the condition of humanity as a whole. We do also have an altruistic streak, and this extends beyond even human-kind to all of Nature.

Politicians, and many commentators who should know better, cannot believe that people are capable of doing things because they are right, good or just; not out of sordid self-interest. They are convinced that people who favour organic food or wine or ecological policies are just fashion victims and this fad will pass. Harry Eyres gives a good account of this in his recent column (The Slow Lane - Financial Times 9/6/2012).

In the belief that the electorate are only guided by narrow self-interest, our career politicians come up with policies which reflect this - short-term, mean-minded half-measures, not forgetting to feather their own nests and those of their financial friends all the while. They should now realise that we need leaders with courageous long-term goals to guide us out of all our present messes.

Where are they ?