econ story board

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econ story board
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Tekst Storyboardowy

  • Scene 1: Living the Dream 
  • Scene 2: Dreams are Crushed 
  • R.I.P all the sheep in Town Common
  • Scene 3: Why we're stupid 
  • *dreaming* Each family is limited to 3 sheep
  • Grad idea Archibald!
  • Everyone was living in the town all happily sharing the land with each other, not one person own the land all to themselves. The land in plentiful and everyone can graze their sheep on the land. 
  • Scene 4: Should have done this
  • So Benedict which sheep do you want to sell 
  • Archibald sell the fattest one 
  • Years pass, population of people and sheep grow. There is only a fixed amount of land so this leads to the grass being depleted.  With no more grass the sheep raising becomes impossible. The wool industry disappears, families lose their source of livelihood. 
  • Scene 5: land division 
  • Their dreams were crushed because the shepherds did not do anything to limit the amount of sheep each family had. They could have limited the amount of sheep s they still had grass. When one families flock grazed the land it ruined the land for another families flock of sheep. 
  • Scene 6: what's the lesson
  • Sheep will not be a private good and I am regulating the consumption of sheep. 
  • They could have limited their amount of sheep in a families flock, taxed the sheep, or auctioned off a limited amount of the sheep, and require people to have sheep-grazing permits 
  • they should have just divided the land up among the families, and so they can close it off and protect it from excessive grazing. Then the land becomes a private good and not a public good.
  • the government can solve this by using regulation or taxes  to reduce consumption of the common resource. They could also turn the common recourse into a private good. 
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