Give at least one example of the tragedy of the commons?

Grand Banks fisheries

The Grand Banks are fishing grounds off the coast of Newfoundland. For centuries, explorers and fishermen described this region as home to an endless supply of cod fish. In the 1960s and 1970s, advances in fishing technology allowed huge catches of cod. Following a few dramatically large seasons, the fish populations dropped, forcing Canadian fishermen to sail farther to maintain large catch sizes each season.

By the 1990s, cod populations were so low that the Grand Banks fishing industry collapsed. It was too late for regulation and management; the cod stocks had been irreparably damaged. Since then, the cod populations have remained low, and some scientists doubt the Grand Banks ecosystem will ever recover.

Explanation: